Turkey: Central Bank cuts interest rates

Lowered by 200 basis points to 16%

21 October, 14:55

    (ANSAmed) - ISTANBUL, 21 OTT - The Turkish Central Bank cut its interest rates on Thursday by 200 basis points to 16%.

    Last month, interest rates were lowered from 19% to 18%, in line with the economic vision of Turkish President Recep Tayyip Erdogan, who just days ago also sacked three senior officials at the Central Bank.

    That decision led to a further devaluation of the Turkish lira.

    (ANSAmed).

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