Turkey’s Central Bank on Wednesday lowered its one-week repo rate by 50 basis points, APA reports quoting Anadolu Agency.
The policy rate, also known as the one-week repo rate, dropped to 10.75% from 11.25%, the bank said in a statement issued after its second Monetary Policy Committee (MPC) meeting of this year.
An Anadolu Agency survey had forecasted a change between 25 and 75 basis points.
The bank scheduled 12 committee meetings for 2020.
Last year, it held eight MPC meetings, as interest rates fell 1,200 basis points over the course of the year, from 24% to 12%.
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