"Turkish Central Bank Raises Interest Rate to 45% Amid Inflation Surge and Foreign Currency Risk"
TL;DR
Turkey's central bank raised its key interest rate to 45% in response to soaring inflation, with the country's currency, the lira, hitting a new record low against the U.S. dollar. This marks the eighth consecutive hike since May 2023 and comes ahead of local elections in March. The lira has lost more than 80% of its value against the dollar over the last five years, and analysts predict this may be the last hike for some time.
- Turkey hikes interest rate again to 45% after inflation nears 65% CNBC
- Investors are keen to take on Turkish foreign currency risk and try to receive rates – ING FXStreet
- Turkish Central Bank Ends Rate-Hike Cycle With Final Move to 45% Bloomberg
- Turkish banks' head expects credit card restrictions after 160% growth | Daily Sabah Daily Sabah
- Turkey on Cusp of Ending Rate Hikes With Last Step Up to 45% BNN Bloomberg
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