Turkey’s central bank on Thursday raised its benchmark lending rate to a 20-year high of 30 percent to battle raging inflation. The bank said it decided to raise its rate by five percentage point “to establish disinflation as soon as possible, anchor inflation expectations and control the deterioration in pricing behaviour”.
Turkey’s central bank on Thursday raised its key lending rate to a 20-year high following a sudden turn towards conventional economics by President Recep Tayyip Erdogan. The bank lifted its policy rate to 30 percent from 25 percent and promised more belt-tightening measures in the future. It followed a new surge in inflation that came […]
The post Turkey hikes interest rate to 20-year high appeared first on Insider Paper.
https://insiderpaper.com/turkey-central-bank-raises-key-rate-to-30-statement/
Comments
0 comment