Arrow Artboard Created with Sketch. Artboard Created with Sketch. Title Chevron Title Chevron Icon Facebook Icon Linkedin Icon Mail Contact Path Layer Icon Mail Positive Arrow Icon Print Currencies Turkish lira nosedives after rate cut sought by Erdogan Rising prices hit consumers while government remains bullish on growth The Turkish lira sank to another all-time low after the central bank pushed forward with an interest rate cut.
MOMOKO KIDERA and SINAN TAVSAN, Nikkei staff writers November 19, 2021 00:19 JST Updated on November 19, 2021 03:28 JST | Turkey
ISTANBUL -- The Turkish central bank slashed its benchmark policy rate for the third month in a row Thursday despite the country's acute inflation, sending the lira to an all-time low.
The bank cut its one-week repo rate by 1 percentage point to 15%, bringing the total interest rate cuts since September to 400 basis points.
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