Reported about 18 hours ago
Turkey's central bank has reduced its key interest rate by 2.5 percentage points to 47.5%, marking its first cut in nearly two years. This decision comes as inflation shows signs of slowing down, with November rates at 47% after a peak of 85% in late 2022. The Monetary Policy Committee stated that reduced domestic demand is contributing to the downtrend in inflation, although many households continue to struggle with the cost of living.
Source: YAHOO