Interest rate cut improves market, investments, official says

The Turkish Central Bank's decision on Feb. 19 to cut interest rates provided leverage for markets, employment and investments, said the head of the Foreign Economic Relations Board of Turkey (DEIK).

The bank's total reduction of 13.25 points over the last six monetary policy meetings supports Turkey's development strategy, Nail Olpak said in a press release on Feb. 19.

This move also improves the capacity of Turkish exporters, he stressed.

"As DEIK, we support every step of our economic administration to strengthen our economic activity," he added.

On Feb. 19, the bank lowered its one-week repo rate -- also known as policy rate -- from 11.25 percent to 10.75 percent.

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