Tags: EU | Turkey | Economy

Turkish Central Bank Slashes Key Interest Rate again

Thursday, 12 September 2019 08:39 AM

ANKARA, Turkey (AP) — Turkey's central bank, under its new governor, has slashed its key interest rate again, this time by 3.25 percentage points.

The bank said Thursday it had lowered the one-week repo auction rate to 16.50% from 19.75%, saying the inflation outlook continued to improve.

The bank had cut the rate from 24% to 19.75% in July following the appointment of Murat Uysal.

The rate cut Thursday was less than investors had anticipated, helping the Turkish lira advance against the dollar.

President Recep Tayyip Erdogan dismissed the previous governor, Murat Cetinkaya, on July 6 for reportedly resisting rate cuts.

Turkey's currency nosedived last year over concerns about the country's high levels of foreign debt, Erdogan's economic policies and a diplomatic dispute with the United States.

© Copyright 2019 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

   
1Like our page
2Share
GlobalTalk
Turkey's central bank, under its new governor, has slashed its key interest rate again, this time by 3.25 percentage points.The bank said Thursday it had lowered the one-week repo auction rate to 16.50% from 19.75%, saying the inflation outlook continued to improve.The bank...
EU,Turkey,Economy
126
2019-39-12
Thursday, 12 September 2019 08:39 AM
Newsmax Media, Inc.
 
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
© Newsmax Media, Inc.
All Rights Reserved