Turkey slashes to record low as growth slumps

The Central Bank of Turkey on Thursday chopped two percentage points off its benchmark rates, taking the measures to their lowest-ever levels.

The central bank's cut - the steepest for four years - leaves the key overnight borrowing rate at 13%. The overnight lending rate falls to 15.5%.

The cuts come after data revealed growth fell to a six-year low of 0.5% in the fourth quarter of 2008. The Monetary Policy Committee noted in its post-meeting statement that recent readings pointed to an

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: