Despite a weaker currency exchange rate, Turkey's central bank reduced its key interest rate by a sharp 100 basis points to mitigate the economic fallout from the coronavirus outbreak.
The Monetary Policy Committee of the Central Bank of the Republic of Turkey, led by Governor Murat Uysal, cut the policy rate, which is the one-week repo auction rate, to 8.75 percent from 9.75 percent. Economists had expected only a 50 basis point reduction.
For comments and feedback contact: editorial@rttnews.com
Economic News
What parts of the world are seeing the best (and worst) economic performances lately? Click here to check out our Econ Scorecard and find out! See up-to-the-moment rankings for the best and worst performers in GDP, unemployment rate, inflation and much more.
April 17, 2026 15:29 ET The ongoing conflict in the Middle East continues to raise concerns for policymakers who worry about the impact of the supply shock and high energy prices on the real economy. Producer price data and various survey results on the housing market were the main news from the U.S. this week. In Europe, industrial production data for the euro area gained attention. GDP figures out of China and the policy move by the Singapore central bank were in focus in Asia.