London August 18 2022: Turkey's central bank shocked markets on Thursday by cutting its policy rate by 100 basis points to 13%, saying it needed to keep driving economic growth despite inflation surging to near 80% and a global tightening trend among its peers.
All 14 economists polled by Reuters had expected the bank to hold its policy rate at 14%. The lira weakened 1% after the rate decision.
Source:
Reuters
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