Ankara: The Central Bank of Trkiye (CBRT) has reduced its policy rate to 37%, APA-Economics reports, citing the Bank.

According to Azeri-Press News Agency, the CBRT's Monetary Policy Committee reduced the one-week repo policy rate from 38% to 37%. Under the decision, the overnight lending rate was reduced from 41% to 40%, while the overnight borrowing rate was lowered from 36.5% to 35.5%.

The Bank emphasized that a tight monetary policy will be maintained until price stability is ensured, and if the inflation outlook deviates from the medium-term targets, the monetary stance will be tightened further.