Turkish central bank bows to Erdogan’s pressure to cut rates
ISTANBUL (AP) — Turkey’s Central Bank has unexpectedly cut the main interest rate by one percentage point, bowing to President Recep Tayyip Erdogan’s demand for lower borrowing rates to boost growth. The bank’s monetary committee on Thursday cut the policy rate from 19% to 18% despite an annual inflation rate of 19.25%. Economists generally view
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