Turkey’s central bank announces another interest-rate cut that exceeded forecasts
Turkey's central bank cut its policy rate by 250 basis points to 14%, down from 16,50% on Thursday, a reduction that was above market expectations.
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The Monetary Policy Committee reduced its key rate to 14% from 16.5% on Thursday. Expectations ranged widely, with most economists seeing a decrease of 1 percentage point. But the Central Bank of Turkey has opted for a bigger-than-forecast cut all three times.
"The inflation outlook continued to improve. At this point, the current monetary policy stance, to a large part, is considered to be consistent with the projected disinflation path." the MPC noted in a statement. (ILKHA)
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