Turkish centrla bank cuts policy rate by 1.5% to 10.5% in October
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The Central Bank of the Republic of Türkiye (CBRT) cut its benchmark interest rate, the one-week repo rate, by 1.50% from 12.0% to 10.50% on Thursday.
Markets had expected the central bank to slash rates by 1% to 11.0% this month.
USD/TRY came under heavy selling pressure, despite a bigger-than-expected rate cut by the CBRT. The spot was last seen trading at 18.59, modestly flat on the day.
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