Turkish interest rate cut

The Central Bank of Turkey (CBRT) yesterday, 8 November, cut short-term interest rates by 25 basis points, bringing the overnight borrowing rate and the lending rate to 13.75 and 17.75 percent respectively.

Recent surveys of economists indicated that the move had been largely anticipated, after inflation eased to the slowest pace in more than three decades last month. The latest reduction means that the Turkish central bank has cut interest rates by a total of 4.25 percent this year. The

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