TThe Central Bank of Turkey raised the discount rate from 40% to 42.5% at a meeting on December 21. The regulator is tightening monetary policy for the 7th time as part of the fight against inflation. In November, inflation was 62% year-on-year, the highest in 11 months of 2023. The central bank forecasts a slowdown in inflation to 36% by the end of 2024.