Turkey surprises with interest rate cut

Article reports that Turkey’s central bank cut interest rates on the 16 December 2010 in an unorthodox move intended to protect financial stability, but likely to raise doubts about its commitment to fighting inflation.

ESO: Background information: Capital inflows to Turkey spur rate cut plan http://www.europeansources.info/record/capital-inflows-to-turkey-spur-rate-cut-plan/

Central Bank of the Republic of Turkey: Press Release, 16.12.10: Decision of the Monetary Policy Committee on Interest Rates http://www.tcmb.gov.tr/yeni/announce/2010/ANO2010-40.php

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