EUR
enErdogan has agreed to raise interest rates
June 15, 2023
Turkish President Recep Tayyip Erdoğan gave his consent to the finance minister to raise interest rates in the country as part of the fight against rising inflation. While speaking to Turkish journalists, he stressed the importance of reducing inflation to a certain level and urged the finance minister to act quickly and decisively.
Analysts at U.S. bank JPMorgan expect Turkey's central bank to decide at its upcoming meeting on June 22 to significantly raise its key rate by 16.5 points, bringing it to 25 percent from the current 8.5 percent, Reuters reported.
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