(MENAFN) Central Bank in Turkey cuts its main interest rate by 25 basis points against a sharp jump in inflation following the failed coup of July 15.
According to the Central Bank, the overnight lending rate was trimmed to 8.5% from 8.57%.
However, this cut is the fifth straight trimming by the central bank under the new governor, Murat Cetinkaya, with strong pressure from President Recep Tayyip Erdogan to stimulate growth.
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