(MENAFN) Turkey's central bank cut its main interest rates to face falling inflation, but still drew fire from a government, eyeing election for not cutting them sharply enough, Gulf Times reported.
The bank lowered its main one-week repo rate for the second straight month, trimming it by 25 basis points to 7.5 percent, in line with many economists' forecasts.
The central bank struck a slightly more dovish tone on its policy outlook, saying it would keep monetary policy "cautious until there is clear evidence of a significant drop in the outlook for inflation.
"Given the rising volatility in food and energy prices, the (policy) committee decided to keep the cuts in interest rates measured," the Turkish central bank said in a statement.
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