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Thursday, October 20, 2016

UPDATE 2-As lira falls, Turkey's central bank takes rare pause in rate cuts | Reuters

UPDATE 2-As lira falls, Turkey's central bank takes rare pause in rate cuts

* Rates kept on hold after seven months of cuts

* Most economists had expected another cut

* Central bank cites lira volatility in its move (Recasts, adds comment and context)

By Daren Butler

ISTANBUL, Oct 20 Turkey's central bank kept interest rates on hold on Thursday, citing weakness in the lira currency, pausing after seven straight months of cuts and repeated calls by President Tayyip Erdogan for cheaper credit.

More:UPDATE 2-As lira falls, Turkey's central bank takes rare pause in rate cuts | Reuters