Roundup: Türkiye cuts rate for 1st time in nearly 2 years, eliciting mixed reactions

by Burak Akinci

ANKARA, Dec. 26 (Xinhua) -- Türkiye's central bank on Thursday cut its benchmark interest rate by 250 basis points (bps) to 47.5 percent, marking its first rate cut in nearly two years.

The bank attributed the move to slowing inflation. Its Monetary Policy Committee said in a statement that the overall inflation trend was "flat" in November and is likely to decline in December.