Central Bank may cut rate

April 13 2009 19:07:20

Central Bank may cut rate

Bloomberg

The Central Bank will reduce the rate by half a percentage point to 10 percent, 10 of 11 economists said in a Bloomberg survey. The Bank will announce its decision at 7 p.m. Thursday.

"The Central Bank is still quite pessimistic on the growth side and feels it has more room to cut rates," said Şengül Dağdeviren, chief economist at ING Bank in Istanbul. "There’s no sustainable recovery in domestic demand and it appears there’s no danger of overshooting inflation targets either."

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