Türkiye's central bank cuts policy rate by 50 bps

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Türkiye's central bank cuts policy rate by 50 bps

STORY: Türkiye's central bank cuts policy rate by 50 bps DATELINE: Feb. 24, 2023 LENGTH: 00:01:47 LOCATION: Ankara CATEGORY: ECONOMY SHOTLIST: 1. various of Türkiye's central bank 2. various of people in the market 3. aerial views of earthquakes in Turkey STORYLINE: Türkiye's central bank delivered an interest rate cut Thursday from 9 percent to 8.5 percent amid high inflation and in the aftermath of a devastating earthquake. "It has become even more important to keep financial conditions supportive to preserve the growth momentum in industrial production and the positive trend in employment after the earthquake," the bank said in a statement. The current monetary policy stance after the measured reduction is adequate to support the necessary recovery in the aftermath of the earthquake by maintaining price stability and financial stability, said the statement. While the earthquake is expected to affect economic activity in the near term, it is anticipated that it will not have a permanent impact on the

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