Istanbul, Dec 26, 2024 (AFP) - Turkey lowers interest rate to 47.5 percent

NAMPA / AFP

2024-12-26

Turkey's central bank lowered its key interest rate on Thursday, the first cut in nearly two years as it battles with double-digit inflation. The bank's monetary policy committee decided to reduce the policy rate from 50 percent to 47.5 percent, with a statement citing improvement in "inflation expectations and pricing behaviour". The last cut was in February 2023. The central bank began to raise interest rates last year to battle soaring pric......

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