ISTANBUL Major business associations have welcomed the Central Bank’s move to start the easing cycle by delivering a 250 basis points cut in its policy rate, calling on lenders to follow suit. The bank slashed the one-week repo auction rate to 47.5 percent only two days after the minimum wage for millions of workers was hiked by 30 percent to a net of 22,104 Turkish Liras ($628) per month. The rate cut met expectations and will help improve predictability, commented Şekib Avdagiç, the president