Turkey Cuts Interest Rate for First Time Since Start of Iran War

The Turkish central bank lowered its benchmark interest rate as indicators pointed to easing underlying inflation.

The Central Bank of the Republic of Turkey has lowered its benchmark interest rate, Bloomberg and Daily Sabah reported. According to Bloomberg, the decision marks the central bank's first rate reduction since the start of the war in Iran.

According to TradingView, the central bank noted that macroeconomic indicators confirm a deceleration in the underlying inflation trend, creating room for monetary easing.

Further details regarding the size of the rate cut and the updated benchmark rate have not yet been released.