The Turkish Central Bank on Thursday lowered its one-week repo rate 200 basis points.
The policy rate, also known as the one-week repo rate, fell from 14% to 12%.
The decision came in a statement by the bank’s Monetary Policy Committee meeting, the last of eight meetings scheduled for this year.
The cut was above market expectation of 150 basis points.
According to an Anadolu Agency survey on Monday, economists expected a 150 basis points cut in interest rates, with the lowest estimate at 100 basis points, and the highest at 225.
Since the beginning of this year, the