Central Bank of Turkey’s Interest Rate Increased by 250 Basis Points but Still Far Below Inflation

The Central Bank of Turkey only lifted the one-week repo rate half as much as forecast. A 250-basis point hike following a 650-basis point increase at the prior June meeting nonetheless puts the rate at 17.0%, which its highest level since 18% in September 2021. The first rate change in 2023 had been a 50-basis […]