Türkiye's central bank cuts key interest rate to 13 pct

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Türkiye's central bank cuts key interest rate to 13 pct

STORY: Türkiye's central bank cuts key interest rate to 13 pct DATELINE: Aug. 19, 2022 LENGTH: 00:01:07 LOCATION: Ankara CATEGORY: ECONOMY SHOTLIST: 1. various of Turkish central bank 2. various of bank clerks counting money 3. various of people waiting to board at the airport 4. various of street views STORYLINE: The Turkish central bank on Thursday made a surprise interest rate cut to 13 percent from 14 percent, plunging its currency to the lowest point this year. The move aimed to drive economic growth and sustain employment amid growing geopolitical risk, the bank's monetary policy committee said in a statement, adding that rising loan rates have diminished the effectiveness of the monetary policy. "It is important that financial conditions remain supportive to preserve the growth momentum in industrial production and the positive trend in employment in a period of increasing uncertainties regarding global growth as well as escalating geopolitical risk," the statement said. Accordingly, the committe

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