CBRT slashes rates again as inflation enters single digits

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CBRT

The Central Bank of the Republic of Turkey

The Central Bank of the Republic of Turkey has added a third sharp rate cut to its ongoing easing cycle, as inflation dipped into single figures for the first time in two years.

The bank’s monetary policy committee (MPC) chose to cut the one-week policy rate by 250 basis points, from 16.5% to 14%. Committee members highlighted a “moderate recovery” in economic activity and continued improvement in the inflation outlook.

The action follows a 325bp cut at the MPC’s previous meeting in September,

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