Turkey explains another half-point cut
The Central Bank of Turkey cut rates by 50 basis points earlier this month as global economy recovery was likely to take a considerable time, the minutes for the 16 June meeting reveal.
The committee members noted the recovery in domestic economic activity would be gradual and labour market conditions would not improve anytime soon. The committee therefore expected the inflation rate to remain at low levels in the forthcoming period.
The committee members also noted that changes in monetary
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