Turkey Cuts Benchmark Interest Rate Again... 10.75%

[Asia Economy Reporter Joselgina] The Central Bank of Turkey announced on the 19th (local time) at the Monetary Policy Committee meeting that it has lowered the benchmark interest rate, the 1-week repo (repurchase agreement) rate, by 0.50 percentage points to 10.75%. This is the sixth rate cut since the central bank leadership change last July. Turkey's benchmark interest rate has fallen from 24% to the 10% range in just over half a year.