Another 50 bps down, more to come

TURKEY - Report 21 May 2020 by Murat Ucer

At today’s rate-setting meeting, the Monetary Policy Committee reduced the policy rate (weekly-repo) by another 50 bps to 8.25% (simple), bringing the cumulative cuts since Turkey’s first official COVID case (March 11th) to 250 bps --and to 1575 bps since the easing cycle began in July.

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