New Turkish governor hints at willingness to cut rates
The newly-appointed governor of the Central Bank of the Republic of Turkey (CBRT) has signalled his willingness to cut the policy rate at the upcoming meeting of the monetary policy committee.
Murat Uysal said he believed there was “room for manoeuvre” on rates, saying inflation expectations were falling and the “level and volatility of inflation” had also come down.
Inflation dropped to 15.7% in June, down from 18.7% a month earlier. It had previously peaked at over 25% after an economic
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