Turkey's central bank raised the discount rate by 5 percentage points from 30% to 35%

The Central Bank of Turkey, as expected, raised the discount rate again as part of the fight against inflation.  Price growth was higher than expected in Q3 and reached 61.35% year-on-year in September. According to forecasts by the end of the year inflation will rise to 68%, however, even this figure is considered progress compared to last year, when price growth reached 85%.

Representatives of the regulator said that if necessary, the discount rate will be raised at the next meetings.