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  • 23-04-20

    Central Bank of Turkey reduces its one-week repo rate

    (MENAFN) On Wednesday, the Central Bank of Turkey reduced its one-week repo rate 100 basis points; the bank's policy rate dropped from 9.75 percent to 8.75 percent.

    The decision came in a statement from the bank's Monetary Policy Committee (MPC) gathering; the fourth of twelve gatherings planned for 2020.

    Since July last year, the bank decreased interest rates for the 8th time in a row.

    Economic activity began to weaken in mid-March because of the impacts of COVID-19 pandemic on external trade, tourism and local demand, according to the bank.

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