Monday, 06 December 2021 08:08 GMT

Turkey: benchmark interest rate lowered to enhance economic growth


(MENAFN) Turkey's Central Bank has decreased the benchmark interest rate again in order to improve the economic expansion, as the decrease was made on Thursday in line with Turkish President Recep Tayyip Erdogan's aim of arriving at single-digit interest rates in 2020.


According to the bank, the Monetary Policy Committee of the Central Bank has continued to a rate decrease of 200 basis points, changing the benchmark rate from 14 to 12 percent.


The bank informed that, current data shoes that the improvement of economy carries on, adding that the inflation is likely to decline.


The Turkish leader changed the earlier Central Bank governor with Murat Uysal, who has decreased the rate by 12 percentage points since taking office.

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