Turkey hikes interest rate again to 45% after inflation nears 65%
Residents waiting at a bus stop under a large Turkish flag in Istanbul, Turkey, on Sunday, April 30, 2023.Bloomberg | Bloomberg | Getty ImagesTurkey's central bank on Thursday hiked its key interest rate by another 250 basis points to 45%.The hike to the benchmark one-week repo rate was in line with economists' expectations.It comes amid an ongoing battle against double-digit inflation for Turkey's monetary policymakers, with the rate hike the latest step in that effort.Inflation in Turkey incre...
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