Turkey continues to cut rates

The Central Bank of Turkey's monetary policy committee voted on Thursday to lower its benchmark overnight borrowing rate by 25 basis points to 15.5%.

The decision marks the fifth cut in a row for the central bank. Since September the committee has slashed two percentage points from the benchmark rate. The committee was widely expected to cut rates on Thursday, but analysts were split on whether it would be by 25 or 50 basis points.

Both the overnight and late liquidity window lending rates were

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