Turkish rates hit record low

The Central Bank of Turkey's decision to lower its benchmark rate by a full percentage point on Thursday took borrowing costs in the country at an all-time low.

The central bank cut its main overnight borrowing rate to 10.5%, the lowest level since the measure was introduced in 2002. It also cut the overnight lending rate by the same margin to 13% - also a record low.

Despite signs that inflation would rise in March on the back of a sharp spike in domestic food prices, the central bank expected

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