Türkiye Assembly of Exporters
Business circles welcome first interest rate cut in 22 months
Major business associations have welcomed the Central Bank's move to start the easing cycle by delivering a 250 basis points cut in its policy rate, calling on lenders to follow suit.
The bank slashed the one-week repo auction rate to 47.5 percent only two days after the minimum wage for millions of workers was hiked by 30 percent to a net of 22,104 Turkish Liras ($628) per month.