Turkish central bank slashes rates 425 pts in first shift since crisis

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Turkish central bank slashes rates 425 pts in first shift since crisis

ISTANBUL: Turkey’s central bank sharply cut its key interest rate by a more than expected 425 basis points to 19.75% on Thursday to spur a recession

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ISTANBUL: Turkey’s central bank sharply cut its key interest rate by a more than expected 425 basis points to 19.75% on Thursday to spur a recession-hit economy, its first step away the emergency stance it adopted during last year’s currency crisis.

The bank lowered its benchmark one-week repo rate 24%, where it had remained since Septem […]

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