Turkey's central bank on Thursday says it's cutting its interest rate to 12% from 14%. "The improvement in macroeconomic indicators, inflation in particular, supports the fall in country risk premium and contributes to a benign outlook in cost factors. Underlying trend indicators, supply side factors and import prices lead to an improvement in the inflation outlook. In light of these developments, recent forecasts suggest that inflation is likely to materialize close to the lower bound of the October Inflation Report projections for the end of the year, with risks around the disinflation path for 2020 being balanced," the central bank said.
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December 12, 2019 at 06:04PM
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Turkey's central bank cuts key rate by 2 percentage points - MarketWatch
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