Turkey | A modest move as expected

Summary

The Central Bank reduced the upper bound of its interest rate corridor 25bps further to 8.75% and kept the lower bound of the interest rate corridor and the 1-week repo constant at 7.25% and 7.50% respectively. The decision was in line with the analyst expectations which had declined from the previous 50bps to a 25bps reduction following the heightened political volatility

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