The Central Bank of Turkey raised the rate for the second time this summer – from 17.5% to 25% – Kommersant
[ad_1]
The Central Bank of Turkey decided to raise the key rate by 750 bp. p. (basis points) – up to 25.0% from 17.5% per annum. This was reported by Reuters. A month earlier, the Turkish Central Bank raised the key rate by 2.5 percentage points. — from 15.0% to 17.5% per annum.
Interviewed by the agency Reuters Economists had expected the key rate to rise to 20.0%. As of 14:02, the Turkish lira rose by 2.7% to 26.45 per dollar.
After the July decision to raise the rate, inflation in Turkey slowed to a minimum in 18 months (38.2%). However, closer to the beginning of August, the indicator began to grow again: as of August 3, inflation increased by 47.83% in annual terms.
In 2021, due to several discount rate cuts, the lira against the dollar fell sharply. As a result, on November 23, 2021, the lira fell by 18%, which was the sharpest drop in the Turkish lira since 2002.
[ad_2]
Source link
