Turkey’s central bank said on Thursday recent forecast revisions suggest inflation is likely to be notably below the projections of its July inflation report by the year-end, as it cut its policy rate by 250 basis points.
“At this point, the current monetary policy stance, to a large part, is considered to be consistent with the projected disinflation path,” the bank said in its statement after its monetary policy committee meeting.
The bank lowered its benchmark one-week repo rate to 14.0 percent from 16.5 percent.
-
Turkey eyes new tax revenues with series of proposed changes
Turkey is preparing to raise tax revenues with a series of measures including higher rates for high earners and high-value properties, hotel ... Economy -
President Trump lifts US sanctions on Turkey
US President Donald Trump announced that recent US sanctions on Turkey will be lifted in an address from the White House on Wednesday. “I ... Middle East -
Turkey, Russia discuss new S-400 supplies: Report
Turkey is in talks to buy more S-400 missile defense systems from Moscow, Russia’s state arms exporter said, despite Washington’s repeated ... World News