Turkey's central bank lowers key interest rate to 47.5%
ANKARA, Turkey: Turkey's central bank has reduced its key interest rate by 2.5 percentage points to 47.5, marking the first rate cut in nearly two years as the country grapples with high inflation.
The Monetary Policy Committee announced the move on December 26, lowering the one-week repo rate from 50 percent.
The committee cited slowing inflation as the reason for the decision, noting that the overall i