Türkiye's central bank lowers key rate

For the first time since December 2022, the Central Bank of Türkiye decided to cut its key interest rate from 9% to 8.5%, Report informs, citing Turkish media.

The Monetary Policy Committee of the Central Bank cut the discount rate by 50 basis points to 8.5%. While the quake is expected to impact economic activity in the near term, it is not expected to have a permanent impact on economic performance over the medium term, the bank said.