Turkish Central Bank Raises Key Interest Rate to Combat Inflation

FILE - A girl touches fake Turkish liras, euros and US dollars' banknotes in a shop in Istanbul, Turkey, Wednesday, Sept. 6, 2023. Turkey’s central bank has raised its key interest rate by another 2.5

Turkey's Central Bank Raises Key Interest Rate by 2.5 Percentage Points to Tackle High Inflation

Turkey's central bank has once again increased its key interest rate by 2.5 percentage points, as part of a continued effort to combat soaring inflation. The move comes after inflation in the country reached nearly 65% in December, causing significant economic challenges for households.