Central Bank of Turkey reduces interest rate

The Central Bank of Turkey has today reduced the interest rate by 0.75 percentage points from 12% to 11.25%, Report says, citing the Bank.

The interest rate was reduced by 4.25% from 24% to 19.75% on July 25, 2019, by 3.25% from 19.75% to 16.5 on September 12, 2019, by 2.5% from 16.5% to 14% on October 24, and 2% from 14% to 12% on December 12, 2019.