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Markets News

Turkish central bank says to continue cautious monetary stance

ISTANBUL, Sept 12 (Reuters) - Turkey’s central bank said on Thursday that keeping the disinflation process on track with the targeted path requires the continuation of a cautious monetary stance, as it cut its policy rate by 325 basis points.

“The committee assesses that maintaining a sustained disinflation process is the key for achieving lower sovereign risk, lower long-term interest rates, and stronger economic recovery,” the bank said in its statement.

The bank lowered its benchmark one-week repo rate to 16.5% from 19.75%. (Reporting by Ezgi Erkoyun and Daren Butler; Editing by Jonathan Spicer)

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