In stark contrast to the monetary policy tightening stance of global central banks, Turkey decided to slash its policy rate by 150 basis points and to end the current rate cut cycle that began in August.
The Monetary Policy Committee of the Central Bank of the Republic of Turkey, headed by Sahap Kavcioglu, cut the policy rate to 9.00 percent from 10.50 percent.
The bank has lowered the policy rate over the last four consecutive meetings by a cumulative 500 basis points.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.