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Turkey's Central Bank cuts rates again
(MENAFN) Central Bank in Turkey cuts its main interest rate by 25 basis points against a sharp jump in inflation following the failed coup of July 15.
According to the Central Bank, the overnight lending rate was trimmed to 8.5% from 8.57%.
However, this cut is the fifth straight trimming by the central bank under the new governor, Murat Cetinkaya, with strong pressure from President Recep Tayyip Erdogan to stimulate growth.
According to the Central Bank, the overnight lending rate was trimmed to 8.5% from 8.57%.
However, this cut is the fifth straight trimming by the central bank under the new governor, Murat Cetinkaya, with strong pressure from President Recep Tayyip Erdogan to stimulate growth.
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