Economy

Earthquake-hit Turkey cuts interest rates to boost economy ahead of elections

Inflation simmers, but central bank says disaster won't have impact beyond short term

20230223N Turkey damage

Women walk near rubble of a collapsed building in Antakya, Turkey. © Reuters

SINAN TAVSAN, Nikkei staff writer
February 24, 2023 00:56 JST

ISTANBUL -- Turkey's central bank on Thursday joined government efforts to cushion the impact of recent deadly earthquakes by deciding to cut its benchmark interest rate by 50 basis points to 8.5 % on Thursday.

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