Despite the decrease in the value of the lira and the rise in the annual inflation rate to more than 83%, the Turkish Central Bank cut the interest rate for the third consecutive month on Thursday, this time by 150 basis points.
The repurchase price at the interest rate (Ribo) for one week was lowered, according to the Turkish Central Bank, from 12% to 10.5%.
He claimed that the late and indirect effects of the high cost of energy are what are causing the consumer price index to rise.
The Turkish Central Bank cut the interest rate by 100 basis points in August and by the same amount in September of last year, which is notable.
The interest rate is lowered by 150 basis points by “Turkish Central.”
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