The Central Bank of the Republic of Turkey unexpectedly decided to lower interest rates by 25 basis points on Thursday.
The benchmark overnight borrowing rate is now 17.25%, the late liquidity window rate is 13.25%, and the rate on overnight and one-week maturity borrowing facilities provided for primary dealers via repo transactions is 21.25%.
In explaining the cut, the central bank said: "Aggregate demand conditions continue to support the disinflation process." Inflation is set to remain w
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