In a significant move, Turkey’s central bank has cut interest rates for the first time in 22 months, making a substantial reduction of €1.5 billion per month. This decision aims to boost economic growth and combat inflation. The latest rate cut is seen as a step towards stabilizing the country’s struggling economy, which has faced challenges due to global economic uncertainty and high inflation.
Source: https://www.ft.com/content/a7fd45d4-d142-4161-a614-1b850c7f009b