US EditionTurkey’s central bank hikes interest rate to 15% in dramatic U-turn to tackle 40% inflation
- Turkey's central bank has raised its key interest rate from 8.5% to 15%, in a major reversal of recent policy led by the country's re-elected president, Recep Tayyip Erdogan.
- The sharp hike comes after years of loose policy, which saw the one-week repo rate drop from 19% in 2021 to 8.5% in March, despite soaring inflation.
57 Articles
57 Articles
Turkey's central bank hikes interest rates sharply – DW – 06/22/2023
Turkey has increased its base interest rates by a whopping 6.5%, the clearest indication yet that the unconventional economic policy dubbed "Erdonomics" might be history now in Recep Tayyip Erdogan's new government.
Turkey almost doubles the key interest rate to calm the price increase. It may not be enough, however.
Turkey's central bank has raised its monetary policy rate for the first time in more than two years. Growth is almost double, from 8.5 percent to 15 percent, but there is widespread concern in the country that it is insufficient to combat rising inflation and end the economic crisis, reports The Guardian.
Turkish central bank raises interest rates to 15% after two-year freeze
Experts say increase from 8.5% may be insufficient to tackling surging inflation that some estimate at 110%Turkey’s central bank has raised interest rates for the first time in more than two years, from 8.5% to 15%, but there is widespread concern that the move is insufficient to combat rising inflation and an ongoing economic crisis.The decision marks a partial shift in the unorthodox economic policy of the president, Recep Tayyip Erdoğan, unde…
Turkey's central bank sharply raises interest rates. That could signal an economic turnaround
ANKARA, Turkey (AP) — Turkey's central bank delivered a large interest rate hike Thursday, signaling a shift toward more conventional economic policies to counter sky-high inflation following criticism that President Recep Tayyip Erdogan’s approach h
Turkey's central bank sharply raises interest rates. That could signal an economic turnaround
ANKARA, Turkey (AP) — Turkey's central bank delivered a large interest rate hike Thursday, signaling a shift toward more conventional economic policies to counter sky-high inflation following criticism that President Recep Tayyip Erdogan’s approach h
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