Turkish rates decision far from manufacturers' expectations

ISTANBUL: Turkish Economy Minister Nihat Zeybekci said on his Twitter account on Wednesday that the central bank's rate decision a day earlier was near market expectations but it far from meeting the manufacturing sector's expectations.

These levels in interest rates will make it harder to invest and to produce, Zeybekci said.

The central bank cut its main one-week repo rate by 75 basis points to 8.75 percent on Tuesday, slightly more than expected, saying inflation was expected to start falling significantly from this month and that global liquidity conditions had recently improved.