The Central Bank of Turkey Increases Interest Rate to 40% by 500 Basis Points
Central Bank of Turkey Surprises Economists with 500 Basis Point Interest Rate Hike In a surprising move, Turkey’s central bank increased its key interest rate, the benchmark one-week repo rate, by 500 basis points to 40% on Thursday. This decision doubled economists’ expectations, as they had only forecast a 250-basis-point hike. The move is seen…