Turkey's central bank lowers benchmark interest rate to 45%
- Turkey's central bank has lowered its benchmark interest rate by 2.5 percentage points to 45%, marking its second rate cut in two months as inflation eases.
- Annual inflation in Turkey decreased to 44.38% in December 2024, down from 47.09% the previous month, although independent economists suggest the real rate is higher.
- President Recep Tayyip Erdogan's unconventional economic policies previously contributed to soaring inflation, but a new economic team is now reversing these policies.
- The central bank plans to continue easing rates, indicating a temporary rise in January inflation, while maintaining a tight stance until price stability is achieved.
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Coverage Details
Total News Sources0
Leaning Left4Leaning Right3Center4Last UpdatedBias Distribution36% Left, 36% Center
Bias Distribution
- 36% of the sources lean Left, 36% of the sources are Center
37% Center
L 36%
C 37%
R 27%
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