Turkish central bank bows to Erdogan's pressure to cut rates - NewsBreak

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By Gesard in Business
Updated 3 years ago

ISTANBUL (AP) — Turkey's Central Bank unexpectedly cut the main interest rate by one percentage point on Thursday, bowing to President Recep Tayyip Erdogan's demand for lower borrowing rates to boost growth. The bank's monetary committee cut the policy rate from 19% to 18% despite an annual inflation rate of...

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