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Turkish Central Bank lowers interest rates 325 bps

The bank lowered its one-week repo rate 325 basis points from 19.75 percent to 16.50 percent.

12.9.2019

Turkey 's central bank slashes its main interest rate by 3.25 percent points, the second cut in three months

The bank lowered its one-week repo rate 325 basis points from 19.75 percent to 16.50 percent.

The bank said the one-week repo rate was slashed to 16.50 percent from 19.75 percent, after a bigger cut in July of 4.25 percentage points.

The Turkish lira was at 5.68 to the US dollar, a rise of over 1.1 percent in value towards 1130 GMT after the bank's announcement.

In the statement accompanying its decision, the bank said the "inflation outlook continued to improve" and that the "moderate recovery in economic activity" continued.

Read more: TRT World

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