October 24, 2019 / 11:14 AM / a month ago

Turkish central bank sees year-end inflation notably below projections

ISTANBUL, Oct 24 (Reuters) - Turkey’s central bank said on Thursday recent forecast revisions suggest inflation is likely to be notably below the projections of its July inflation report by the year-end, as it cut its policy rate by 250 basis points.

“At this point, the current monetary policy stance, to a large part, is considered to be consistent with the projected disinflation path,” the bank said in its statement after its monetary policy committee meeting.

The bank lowered its benchmark one-week repo rate to 14.0% from 16.5%. (Reporting by Ezgi Erkoyun and Daren Butler; Editing by Jonathan Spicer and Gareth Jones)

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