Turkey's central bank raises interest rate to 50% despite previous hints of end to hike cycle
Publishing timestamp: 2024-03-21 09:39:23
Summary
Turkey's central bank raised its key interest rate to 50% to counter climbing inflation, despite previous indications that rate hikes were over. The move was unexpected and aimed at reassuring investors of the central bank's independence. Turkey's lira remains at a record low against the dollar, reflecting ongoing economic challenges in the country.
Sentiment: NEGATIVE
Tickers: TRY=,
Keywords: emerging markets, breaking news: economy, breaking news: markets, central banking, business news, prices, us dollar/turkish lira fx spot rate, asia economy, turkey, markets, interest rates, inflation, economy,
Source: https://www.cnbc.com/2024/03/21/turkey-central-bank-raises-interest-rate-to-50percent-.html