Turkish central bank shocks with 100bp rate cut
Rogoff describes move as “nuts”, as official inflation neared 80% in July
The Turkish central bank’s monetary policy committee ordered a 100 basis point cut in the country’s benchmark interest rate. The move was the fifth time the central bank has decreased interest rates since Turkish president Recep Tayyip Erdoğan fired governor Naci Ağbal in March 2021 for tightening monetary policy. But it is the first cut this year.
The Central Bank of the Republic of Turkey’s policy rate is now 13%, down 600 basis points from its March 2021 level. The move comes as inflation
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@centralbanking.com