Turkish central bank surprises with no rate cut for first time in yearJune 25 2020 11:39 PM
Bloomberg/Istanbul
Turkey’s central bank held off on cutting interest rates for the first time since governor Murat Uysal took over in July, unexpectedly offering relief for markets.
The Monetary Policy Committee left its key rate at 8.25% yesterday, in line with the forecasts of just two economists in a Bloomberg survey. The rest of the 20 analysts predicted another cut.
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