{"id":12617,"date":"2023-11-24T09:30:11","date_gmt":"2023-11-24T04:00:11","guid":{"rendered":"https:\/\/farratanews.online\/turkey-sees-another-big-interest-rate-hike-amid-double-digit-inflation\/"},"modified":"2023-11-24T09:30:11","modified_gmt":"2023-11-24T04:00:11","slug":"turkey-sees-another-big-interest-rate-hike-amid-double-digit-inflation","status":"publish","type":"post","link":"https:\/\/farratanews.online\/turkey-sees-another-big-interest-rate-hike-amid-double-digit-inflation\/","title":{"rendered":"Turkey sees another big interest rate hike amid double-digit inflation"},"content":{"rendered":"
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Turkey\u2019s central bank delivered another huge interest rate hike on Thursday as it tries to curb double-digit inflation that has left households struggling to afford food and other basic goods.<\/p>\n
The bank pushed its policy rate up by 5 percentage points, to 40%, marking its sixth big interest rate hike in a row focused on beating down inflation that hit an eye-watering 61.36% last month.<\/p>\n
However, the bank said its rate hikes would soon end.<\/p>\n
TURKEY’S ERDOGAN TO VISIT GERMANY AS DIFFERENCES OVER THE ISRAEL-HAMAS WAR WIDEN<\/strong><\/p>\n “The current level of monetary tightness is significantly close to the level required to establish the disinflation course,” the bank said. “Accordingly, the pace of monetary tightening will slow down and the tightening cycle will be completed in a short period of time.”<\/p>\n