- Analytics
- News and Tools
- Market News
- Turkish central bank cuts policy rate by 1.5% to 10.5% in October
Turkish central bank cuts policy rate by 1.5% to 10.5% in October
The Central Bank of the Republic of Türkiye (CBRT) cut its benchmark interest rate, the one-week repo rate, by 1.50% from 12.0% to 10.50% on Thursday.
Markets had expected the central bank to slash rates by 1% to 11.0% this month.
Key takeaways from policy statement
Will continue to further strengthen the tools supporting the effectiveness of the monetary transmission mechanism.
Spread between policy rate and the loan interest rates driven by the announced macroprudential measures is closely monitored.
Leading indicators for the second half of the year continue pointing to a slowdown in growth due to the weakening foreign demand.
One risk is likelihood of a recession in main trade partners.
Pressures on manufacturing industry are being monitored closely.
Market reaction
USD/TRY came under heavy selling pressure, despite a bigger-than-expected rate cut by the CBRT. The spot was last seen trading at 18.59, modestly flat on the day.
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
