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06.09 - 08:29
Turkey’s Central Bank Cuts Rates in Surprise Decision
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ISTANBUL—Turkey’s central bank unexpectedly cut key interest rates for the first time in eight months on Thursday, resuming an unconventional policy demanded by President Recep Tayyip Erdogan that triggered a currency crisis last year.
The bank said it cut its benchmark interest rate to 13% from 14%, sending the Turkish lira lower and yields higher.
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