ANKARA — Turkey’s Central Bank, in an unexpected move, hiked interest rates Thursday by another 500 basis points, from 45% to 50%.

The surprise move by the monetary policy committee comes as inflation hit almost 70% last month in a larger than expected increase.

A Reuters poll released earlier this week predicted that the bank would hold rates at 45% after the bank announced in January that it was pausing a dramatic rate-hike run for eight successive months, from June to January.

This is a breaking story and will be updated.

QOSHE - In surprise move, Turkey’s Central Bank hikes interest rates to 50% - Ezgi Akin
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In surprise move, Turkey’s Central Bank hikes interest rates to 50%

13 21
21.03.2024

ANKARA — Turkey’s Central Bank, in an unexpected move, hiked interest rates Thursday by another 500 basis points, from 45% to 50%.

The surprise move by the monetary........

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