The one-week repo auction rate was trimmed by one percentage point, it said, marking the eighth consecutive cut in less than a year.

The Bloomberg consensus was for a reduction of 0.5 percent.

The lira has been declining against the greenback since the coronavirus crisis began earlier this year, losing more than six percent in value in the past month. The Turkish currency stood at 6.99 to the dollar after the bank's announcement.

Copyright Agence France-Presse, 2020