ISTANBUL Şekib Avdagiç, president of the Istanbul Chamber of Commerce (İTO), expects the Central Bank to cut its policy rate by 250 bps at the rate setting meeting this month. The bank kept the key interest rate, the one-week repo auction rate, on hold for an eighth straight month at 50 percent in November. The bank’s Monetary Policy Committee is scheduled to meet on Dec. 26 to decide about the interest rate. “This [the rate cut] will be a step in line with inflation, which is on a reasonable

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