EUR
enTurkey's central bank has sharply raised its key rate
August 24, 2023
Fighting inflation is a priority: Turkey's Central Bank today took a decisive step in the fight against accelerating inflation by announcing a key rate hike of 750 basis points, from 17.5% to 25%. This important decision was announced in an official statement published on the regulator's website.
According to the statement, the Central Bank Council took this decision in order to tighten monetary policy and achieve a reduction in inflation. The key rate increase is aimed at stabilizing inflation expectations and preventing further deterioration of price dynamics in the country.
The Turkish lira rose against the dollar after the increase in the rate of the Central Bank of Turkey, which was stronger than expected.
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