Turkish central bank cuts rate by 250 bps | Money Talks

The Turkish Central Bank has announced a larger-than-expected cut in its key interest rate. Monetary authorities are taking advantage of easing inflation and a more stable lira to give the Turkish economy more support. Lower borrowing costs help spur spending and investments among businesses and consumers. The rate cut also comes after Washington cancelled sanctions that had rocked Turkish markets. The central bank slashed its benchmark rate by 2.5 percentage points to 14 percent. Investors expected a cut of one percentage point. For more, Hakan Akbas joined us on set. He's a senior advisor at the global strategic advisory and commercial diplomacy firm, Albright Stonebridge.

#Lira #Turkey #Inflation