Turkey cuts benchmark interest rate

Turkey’s central bank became the latest to react to fears that the global economic outlook would weigh on domestic growth, unexpectedly cutting its benchmark interest rate by half a percentage point to an all-time low on the 4 August 2011.

ESO: Background information: Concern as Turkish growth hits 11% http://www.europeansources.info/record/concern-as-turkish-growth-hits-11/

Website: Central Bank of the Republic of Turkey http://www.tcmb.gov.tr/yeni/eng/

TCMB: Press Release, 4.8.11: Interest rates http://www.tcmb.gov.tr/yeni/announce/2011/ANO2011-26.php

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