Turkey Hikes Main Interest Rate for First Time since 2018


Turkey's central bank on Thursday raised its main interest for the first time since September 2018, boosting the rate by two percentage points to help the lira recover from historic lows.

The bank said the one-week repo rate would go from 8.25 percent to 10.25 percent. After the bank's announcement at 1100 GMT, the lira gained around one percent in value against the US dollar after touching a record low of 7.71 to the greenback earlier in the morning.

Comments 0