Turkey continues easing cycle with 100bp cut

CBRT
The Central Bank of the Republic of Turkey
Photo: CBRT

The Central Bank of the Republic of Turkey (CBRT) continued its easing cycle today (April 22) with a further 100 basis point cut to the policy rate, a bigger move than the 50bp consensus forecast among analysts.

Policy-makers noted a weakening of external trade, tourism and domestic demand in March due the effects of the coronavirus outbreak. The authorities have already eased monetary and fiscal policy, but the CBRT sees room for further easing due to the drop in aggregate demand and

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