Turkey’s Central Bank cut rates by 50 b.p. amid coronavirus crisis

ЦБ Турции снизил ставку на 50 б.п. на фоне коронавирусного кризиса

May 21 (Reuters) – the Turkish Central Bank Thursday lowered its key interest rate to 8.25% from 8.75%, saying the need to maintain a cautious monetary policy to ensure the continuation of slowing inflation.

Rate cut by 50 basis points waiting for the majority of economists polled by Reuters.

According to the regulator, the monetary policy will be determined by the analysis of the indicators of the trend of core inflation.

The Turkish Lira after the announcement of the meeting of the Central Bank fell 0.1% to 6,7850 per dollar.

(Translated By Marina Bobrova. Editor Dmitry Antonov)

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