Dec 19
Turkey: TCMB cuts aggressively
The Turkish central bank (TCMB) cut its key policy rate (the borrowing rate) by 125bp to 15.00% and its less important lending rate by 125bp to 17.50%. The bank's decision was more aggressive than our and the consensus expectation of a 50bp cut. The borrowing rate has now been lowered by 175bp over the last two meetings from 16.75% to 15.00%.
