The Turkish central bank lowered its key interest rate by 100 basis points to 37% in its first policy meeting this year on Thursday, continuing an easing cycle as inflation moderated, although cutting by less than expected.
At a policy meeting, the bank "decided to reduce the policy rate (the one-week repo auction rate) from 38% to 37%," it said in a statement. It has also lowered the overnight lending rate from 41% to 40% and the overnight borrowing rate from 36.5% to 35.5%.
Most polls predicted a slightly
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