Turkey's Central Bank Surprises with Massive Interest Rate Hike to Combat Inflation
TL;DR
Turkey's central bank surprised economists by raising its key interest rate by 500 basis points to 40%, double the expected hike, in an effort to combat high inflation and a weak lira. Inflation in the country reached 61% in October.
- Turkey's central bank hikes interest rate by 500 basis points to 40%, well above expectations CNBC
- Turkey Central Bank Raises Interest Rate Bloomberg
- Turkey's central bank hikes interest rates again as it tries to tame eye-watering inflation The Washington Post
- Turkey's Central Bank delivers larger-than-expected rate hike Al-Monitor
- Turkey cenbank hikes rate sharply, to complete tightening soon Reuters
- View Full Coverage on Google News
Want the full story? Read the original reporting
Read on CNBC