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Author Topic: Turkey's banks cut 2% interest, hoping to stimulate the economy  (Read 774 times)

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Turkey's banks use strong medicine to cut 2% interest in today's meeting Hope to stimulate the economy through recession.

The central bank of Turkey announced the cut of 2.00% interest rate at today's monetary policy meeting to 12.00%, cutting interest rates for the 4th consecutive meeting to stimulate the economy out of recession.

Previously, analysts predicted that The central bank will cut interest rates today by only 1.50%

The central bank announced that it will cut the 1-week repurchase rate, which is the policy interest rate to 12.0% today, after raising interest rates up to 24% in September last year. During the currency crisis Lira

Inflation has risen by more than 25%, reaching the highest level in 15 years in September last year. After the collapse of the currency Lira

However, inflation has dropped since then. As a result, the central bank was able to cut interest rates in July for the first time in over 4 years.



 

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