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CBRT Cuts Policy Rate by 200 Basis Points

Adel 21 October, 2021 3:12 pm Forex Market, Market Update

The Central Bank of the Republic of Turkey (CBRT) announced on Thursday that it lowered its policy (one-week repo) rate by 200 basis points to 16% from 18%. The market expectation was a rate cut of 100 basis points to 17%.

“Tight policy started to have a higher than envisaged contractionary effect on commercial loans.” by reuters.

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