Home Turkey cuts interest rates by 0.75%, USD/TRY falls toward 5.80

Turkey cuts interest rates by 0.75%, USD/TRY falls toward 5.80

Published date: 16 Jan. 2020 | 12:47

The Central Bank of the Republic of Turkey (CBRT) has announced a cut of 0.75% to the Overnight Lending Rate from 13.5% to 12.75%. It also slashed the Overnight Borrowing Rate to 9.75%.

Markets had been anticipating a rate cut and the Turkish lira recovered in response to the decision. USD/TRY has dropped toward 5.80.

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