Turkish central bank makes fourth rate cut in six months
Central bank has reduced rates by 850 basis points since president dismissed last governor
The Central Bank of the Republic of Turkey continued its sharp easing cycle under governor Murat Uysal, cutting the one-week repo rate by 75 basis points today (January 16).
The CBRT’s Monetary Policy Committee (MPC) lowered the key rate to 11.25%. This is the fourth rate cut since July, when president Recep Tayyip Erdoğan replaced Murat Çetinkaya as governor following months of pressure on the former governor to cut rates.
Erdoğan said in public that he had dismissed Çetinkaya for his failure
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