Turkey Surprises with Larger-than-Expected Interest Rate Hike to 25% in Effort to Tackle Inflation
The Turkish central bank raised interest rates to 25% on Thursday, more than anticipated, signaling its commitment to quell inflation through monetary policy. The main interest rate was previously at 17.5%. Economists surveyed by Reuters had expected an increase to 20%. In the battle against economic challenges, the Turkish lira strengthened against the euro and […]