Turkish central bank cuts rates again despite high inflation - Local News 8

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Turkish central bank cuts rates again despite high inflation

Turkey’s central bank has delivered another large interest rate cut despite inflation running at more than 85%

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Turkish central bank cuts rates again despite high inflation - Local News 8

ANKARA, Turkey (AP) — Turkey’s central bank has delivered another large interest rate cut despite inflation running at more than 85%. The bank announced Thursday that it was lowering the rate by 1.5 percentage points to 9%. That’s in line with President Recep Tayyip Erdogan’s unorthodox economic views. He says high borrowing costs cause high inflation, even though traditional economic thinking says raising interest rates help tame inflation. The…

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Turkey cuts rates by 150 basis points and ends easing cycle

Turkey's central bank on Thursday cut interest rates by 150 basis points to 9% and decided to end its cycle of monetary policy easing, citing increased inflation risks.

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Turkish Central Bank Cuts Rate to 9% and Ends Easing Cycle

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Turkish central bank cuts rates again despite high inflation

ANKARA, Turkey (AP) — Turkey’s central bank delivered another outsized interest rate cut Thursday despite inflation running at more than 85% and other countries moving the opposite way to ease the pain of soaring prices.The central bank said its Monetary Policy Committee decided to lower the benchmark policy rate by 1.5 percentage points to 9%, following a series of similar jumbo cuts. The move is in line with President Recep Tayyip Erdogan’s un…