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International Business Times
International Business Times
Business
Fulya OZERKAN

Turkey's Central Bank Hikes Interest Rate To 50%

Turkey Inflation Recep Tayyip Erdoğan Liam Peach Timothy Ash
Turkish cental bank's monetary policy committee decides to raise the policy rate from 45 percent to 50 percent, with a statement citing 'the deterioration in the inflation outlook' (Credit: AFP)

Turkey's central bank hiked its key interest rate on Thursday, resuming its tightening cycle as one of the world's highest inflation rates rose again last month.

The 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".

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