Turkey's central bank slashed its key interest rates by 250 basis points on Thursday citing slowdown in the underlying trend of inflation.
The Monetary Policy Committee of the Central Bank of the Republic of Turkey, decided to reduce the policy rate to 40.5 percent from 43.0 percent.
Previously, the bank had reduced the rate by 300 basis points in July.
The committee also lowered the central bank overnight lending rate and the overnight borrowing rate by 250 basis points each to 43.5 percent and 39 percent, respectively.
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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.