The Turkish lira between market stability and inflation pressure

The exchange rate of the Turkish lira stabilized on Friday after the Turkish Central Bank’s decision to reduce interest rates 2.5%.

By 10:40 Moscow time, the dollar exchange rate increased slightly by 0.10% to 41.3699 Turkish liras, according to the data of the “Bloomberg” website. On Thursday, the Turkish Central Bank reduced the interest rate by 250 basis points from 43 percent to 40.5 percent on the “ribo” purchases for a week. The Turkish Central Bank indicated in its statement to the slowdown in the direction of inflation last August, in the When the growth in the second quarter recorded results exceeding expectations. He pointed out that the food prices and some components of the highly stalemate services sector are still practicing escalating pressure on inflation. The Turkish Central said that tightening monetary policy, which will continue until the stability of prices will enhance the process of lowering inflation. (Russia today)