|12 December, 2019

Turkish cenbank: policy stance consistent with projected disinflation

The bank lowered its benchmark one-week repo rate to 12% from 14%

ISTANBUL - Turkey's central bank said on Thursday that the current monetary policy stance is considered to be consistent with the projected disinflation path, as it cut its policy rate by 200 basis points.

"The inflation outlook continued to improve while inflation expectations displayed a wide-spread decline," the bank said in its statement after its monetary policy committee meeting.

The bank lowered its benchmark one-week repo rate to 12% from 14%. It has aggressively eased monetary policy since July, when the rate stood at 24%.

(Reporting by Ezgi Erkoyun and Daren Butler; Editing by Jonathan Spicer) ((daren.butler@tr.com; +90-212-350 7053; Reuters Messaging: daren.butler.thomsonreuters.com@reuters.net))