Turkey Central Bank Slashes Rate Again By 100 Bps

Turkey's central bank slashed its key interest rates sharply for the fourth straight month despite the continuing fall in the currency lira. The Monetary Policy Committee of the Central Bank of the Republic of Turkey, governed by Sahap Kavcioglu, decided to cut the one-week repo rate by 100 basis points to 14.00 percent from 15.00 percent.