Turkey makes 250bp cut
MPC narrows rate corridor by 300bp as inflation shows signs of cooling
Turkey’s central bank cut its policy rate by 250 basis points to 47.5% on December 26.
The cut was on the highest end of market expectations, as analysts had predicted a cut of between 100 and 250 basis points. The Central Bank of the Republic of Turkey (CBRT) also narrowed its interest rate corridor from 600bp to 300bp by setting the overnight borrowing and lending rates 150bp below and above the policy rate.
Underlying inflation in the country was “essentially flat” in November, the bank said in
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