Turkey Central Bank Slashes Policy Rate; Ends Easing Cycle

In stark contrast to the monetary policy tightening stance of global central banks, Turkey decided to slash its policy rate by 150 basis points and to end the current rate cut cycle that began in August. The Monetary Policy Committee of the Central Bank of the Republic of Turkey, headed by Sahap Kavcioglu, cut the policy rate to 9.00 percent from 10.50 percent.Original Article