Published 1 month ago

Turkish central bank raises key interest rate to 50% as inflation soars

Turkey's central bank raised its key interest rate by 5 percentage points to combat soaring inflation.
The surprise decision to increase the benchmark rate to 50% aimed at addressing severe economic pain for households.
The rate hike comes ahead of mayoral elections on March 31, defying expectations of keeping the rate steady for a second month.

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The Guardian

Turkish central bank stuns market by hiking interest rates to 50%

Hawkish rise comes 10 days before local elections as, analysts say, a signal it is independent from political constraints

1 month ago·London, United Kingdom

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Reuters

Headline Unavailable

1 month ago·United Kingdom

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Associated Press News

Turkish central bank raises key interest rate to 50% as inflation soars

ANKARA, Turkey (AP) — Turkey’s central bank raised its key interest rate by 5 percentage points on Thursday, resuming a policy of rate hikes aimed at combating soaring inflation that is causing households severe economic pain. In a surprise decision, the central bank said it was raising the benchmark one-week repo rate to 50%. The […]

1 month ago·United States

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abc News

Turkish central bank raises key interest rate to 50% as inflation soars

Turkey’s central bank has raised its key interest rate by 5 percentage points, resuming a policy of rate hikes aimed at combating soaring inflation that is causing households severe economic pain

1 month ago·United States

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KRDO

Turkish central bank raises key interest rate to 50% as inflation soars

ANKARA, Turkey (AP) — Turkey’s central bank has raised its key interest rate by 5 percentage points, resuming a policy of rate hikes aimed at combating soaring inflation that is causing households severe economic pain. In a surprise decision Thursday, the central bank said it was raising its benchmark one-week repo rate to 50%. The bank was widely expected to keep the benchmark rate on hold for a second month running, ahead of mayoral elections …

1 month ago·Colorado Springs, United States

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