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International Business Times
International Business Times
Business
Fulya OZERKAN

Turkey Ends Tightening Cycle, Keeps Interest Rate At 45%

Turkey's central bank maintained its key rate at 45 percent on Thursday, marking the end of its monetary tightening cycle after eight consecutive months of hikes (Credit: AFP)

Turkey's central bank maintained its key interest rate at 45 percent on Thursday, marking the end of its monetary tightening cycle after eight consecutive months of hikes.

It was the first rate decision delivered by the bank's newly appointed governor Fatih Karahan, a former economist at the Federal Reserve Bank of New York and US online retail giant Amazon.

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