May 18, 2023

On Thursday, the Turkish Central Bank announced its decision on the interest rate for the month of February.

The Central Bank of Turkey said, in a statement, that it had decided to cut the interest rate by 50 basis points from 9% to 8.5%.

The Central Bank’s decision came unexpectedly, as many experts expected the interest rate to remain at 9% after the earthquakes that struck 11 provinces and killed more than 43,000 people.

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