May 16 (SeeNews) - Turkey's central bank lowered on Thursday the one-week repo policy rate to 4.5% from 5.0% as part of its measures to balance risks to financial stability, it said.
The central bank reduced overnight interest rates by 50 basis points as well, it said in a statement. It cut the borrowing rate to 3.5% from 4.0% and brought down the lending rate to 6.5% from 7.0%
"The Committee indicated that, in order to balance the risks on financial stability, the proper policy would be to keep interest rates low while increasing foreign currency reserves via macroprudential measures", the central bank said in the statement after its monetary policy committee meeting.