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  • 26-09-20

    Turkish economists praise disclosure Central Bank rate climb

    (MENAFN) Economists stated that Turkey's Central Bank took a pace in the right route on September 24 with an explicit climb on its standard rate.

    The Central Bank of the Republic of Turkey (CBRT) lifted for the first time since a currency crisis in late 2018 that its one-week repo rate as well recognized as the bank's policy rate by 200 foundation points.

    The bank's policy rate increased as of 8.25 percent to 10.25 percent in an attempt to noose price rises and hold up price constancy.

    Phoenix Kalen the upcoming markets approach director at the Paris-based Societe Generale stated that the move had been unanticipated by markets.

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