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International Business Times

Business

Fulya OZERKAN

Turkey's Central Bank Delivers Smaller Rate Hike

Turkey Hafize Gaye Erkan Recep Tayyip Erdoğan Inflation Mehmet Simsek United States

Turkish central bank governor Hafize Gaye Erkan has said property prices are so high that she had to move back in with her parents (Credit: AFP)

Turkey's central bank announced a smaller interest rate hike than in previous months on Thursday, signalling it is nearing the end of its monetary tightening as it battles double-digit inflation.

The bank lifted its policy rate by 2.5-percentage-points to 42.5 percent. This compares to five-point hikes in previous months.

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