Turkiye’s central bank (CBRT) has cut its key interest rate by 3 pps to 43 per cent.
It also lowered its overnight lending rate from 49 per cent to 46 per cent and the overnight borrowing rate from 44.5 per cent to 41.5 per cent.
The decision marked the first rate reduction since April, when it hiked rates to 46 per cent after the arrest of Istanbul mayor Ekrem Imamoglu, which sent the lira tumbling.
It also lowered its overnight lending rate from 49 per cent to 46 per cent and the overnight borrowing rate from 44.5 per cent to 41.5 per cent.
The decision marked the first rate reduction since April, when it hiked rates to 46 per cent after the arrest of Istanbul mayor Ekrem Imamoglu, which sent the lira tumbling.
