September 12, 2019 / 11:16 AM / 2 months ago

Turkey bonds rally after central bank slashes interest rates

LONDON, Sept 12 (Reuters) - Turkey’s longer-dated sovereign dollar bonds made solid gains on Thursday after the country’s central bank slashed interest rates by 325 basis points to 16.5%.

The moves, which came in tandem with a rise in the lira, included a 1.7 cent jump in a 2030-maturing bond and 1-1.5 cents gains for most debt maturing from then up until 2045.

The central bank’s rate cut on Thursday came after it had cut rates by 425 basis points in July. (Reporting by Marc Jones; editing by Karin Strohecker)

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