Turkey’s central bank on Thursday resumed its policy of lowering a key interest rate even as the country grapples with high inflation and the aftermath of a devastating earthquake.
The bank’s Monetary Policy Committee said it cut the benchmark policy rate by 0.5 of a percentage point, down to 8.5%. The Central Bank of the Republic of Turkey, slashed the benchmark rate by 5 percentage points - down to 9% - between August and November but had left rates unchanged since then.
