ANKARA: Turkey's economy minister welcomed central bank's rate cut on Tuesday, saying it would help revive economy as it eases access to the cheaper financing needed by manufacturers.

In an emailed statement, Economy Minister Nihat Zeybekci also said he welcomed the simplification process in the central bank's rate corridor policy.

Turkey's central bank cut its overnight lending rate by 50 basis points on Tuesday, as expected, marking its fourth straight month of easing and leaving no doubt about new Governor Murat Cetinkaya's drive for looser policy.

Copyright Reuters, 2016