Turkey's Central Bank reduces the policy rate

Turkey's Central Bank reduces the policy rate

The Monetary Policy Committee has decided to reduce the policy rate (one-week repo auction rate) from 10.75 percent to 9.75 percent, Turkey's Central Bank announced in a statement on Tuesday.

"As developments regarding the spread of the coronavirus have weakened global growth outlook, central banks in advanced and emerging economies have taken coordinated expansionary measures. The pandemic disease is closely monitored for its evolving global impact on capital flows, financial conditions, international trade and commodity prices," the statement said.

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