Thu, 2020-04-23 02:25
ISTANBUL: Turkey’s central bank cut interest rates to 8.75 percent on Wednesday, risking further lira weakness, in a bigger-than-expected move aimed at limiting the economic damage of the coronavirus crisis.
While the central bank acknowledged the depreciating currency, which has tumbled 15 percent this year, it stressed the need to keep credit flowing and to respond to sliding oil prices as it once again cut interest rates by 100 basis points.
Main category:
Tags:
from ArabNews https://ift.tt/3cABRtq
via Latest News of Dubai
0 Comments