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Turkey's central bank Governor Sahap Kavcioglu told investors in a conference call on Wednesday that fears of a premature interest rate cut are unjust.
“Expectations for an early easing of policy, which aren't based on a just reasoning, need to disappear,” Kavcioglu told investors according to a copy of the presentation on the bank's website. The lira trimmed losses after the news and was trading 0.7% lower at 8.5960 per dollar at 2:49 p.m. in Istanbul.
Read More: Erdogan Renews Rate-Cut Demands as Unemployment Erodes Support
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