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Turkey cut interest rates unexpectedly, the lira exchange rate fell to a record low
The Turkish lira fell to a record low after Turkey's central bank unexpectedly lowered its benchmark interest rate on Thursday, triggering a new round of market turmoil. It also reflects the shadow that President Recep Tayyip Erdogan has brought to monetary policy. The Monetary Policy Committee cut the key weekly repurchase rate by 100 basis points to 18%. Of the 23 economists previously surveyed by Bloomberg, all but one expected the policy interest rate to remain at 19%. Turkey's inflation rate unexpectedly climbed to 19.25% last month, causing the country's real interest rate to fall below zero for the first time since October. The Turkish lira fell to a record low against the US dollar at 2 p.m. local time
新浪美股Sep 23, 2021 19:54