Turkey's central bank hikes rate to 50% as inflation rises
The move comes 10 days before local elections, with the country's cost-of-living crisis having been a major issue for President Recep Tayyip Erdogan and his ruling AKP party. The central bank's monetary policy committee decided to raise the policy rate from 45 percent to 50 percent, with a statement citing "the deterioration in the inflation outlook". The bank had declared in January that its hike at the time would be its last as the level was sufficient to start easing the cost-of-living crisis. Читать дальше...