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.
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May 01, 2026 15:54 ET Central banks dominated the economics news flow this week with almost all major ones announcing their latest policy decisions and many boosted expectations for a rate hike in June. In other news, several countries released the preliminary data for first quarter economic growth. In the U.S., comments by Fed Chair Jerome Powell were also in focus as his term ends this month.