Türkiye’s central bank cut its key interest rate by 250 basis points to 45 per cent on Thursday, continuing the easing cycle it began last month amid a decline in annual inflation.
The bank indicated it would maintain a tight stance “until price stability is achieved via a sustained decline in inflation,” a slight change from last month’s guidance.
Economists expect a rise in trend inflation in January due to a higher minimum wage. A Reuters poll showed all 13 respondents forecast the rate cut, with expectations for it to hit 30 per cent by year-end.
Attribution: Amwal Al Ghad English, Reuters
Subediting: M. S. Salama