March 17, 2020 / 11:21 AM / 23 days ago

Turkish cenbank lowers key rate 100 points in response to coronavirus

ISTANBUL, March 17 (Reuters) - Turkey’s central bank lowered its key interest rate by 100 basis points to 9.75% in a surprise policy committee meeting held one day earlier than scheduled, as it responded to the negative impact of the coronavirus on the global growth outlook.

In its seventh consecutive rate cut in an aggressive easing cycle designed to boost economic growth, The bank cut its benchmark one-week repo rate from 10.75%.

Reporting by Ali Kucukgocmen Writing by Daren Butler Editing by Dominic Evans

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