Mar 20
Turkey: TCMB cuts leading rates by 100bp
Today, 19 March the Turkish central bank (TCMB) cut its key policy rate (the borrowing rate) by 100bp to 10.50% and its less important lending rate by 100bp to 13.00%. The bank's decision was in line with the consensus expectation. TCMB has cut its borrowing by an accumulative 625bp since November 2008. In a statement, TCMB said that the economic slowdown will be prolonged and added that inflation will trend downward. It said that any additional rate cuts would be measured in scale. We share
