Today's Edition
ANKARA (dpa-AFX)
Türkiye's central bank slashed its key interest rates by 250 basis points on Thursday, citing a slowdown in the underlying trend of inflation.
The Monetary Policy Committee of the Republic of Türkiye decided to reduce the policy rate to 40.5% from 43%. Previously, the bank had reduced the rate by 300 basis points in July.
The committee also lowered the central bank's overnight lending rate
and the overnight borrowing rate by 250 basis points each to 43.5%
and 39%, respectively.
"The tight monetary policy stance, which will be maintained until price stability is achieved, will strengthen the disinflation process
through demand, exchange rate, and expectation channels," the bank
said.
