Turkey trims by quarter point

turkey-banknote

The Central Bank of Turkey cut rates by 25 basis points on Thursday, leaving the key overnight interest rate at an all-time low of 6.5% and the lending rate at 9%.

Identical cuts were imposed on the late liquidity window rates, which saw the borrowing rate between 4pm and 5 pm reduced to 2.5%, and the lending rate decreased to 12%. The rate on overnight and one-week maturity borrowing facilities, which are provided for primary dealers via repos, also fell by a quarter point to 8%.

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