Turkey's Central Bank Lifts Rate Sharply By 200 Bps

Turkey's central bank resorted to another sharp rate hike on Thursday, in a bid to bring inflation down from double-digits and maintain price stability. The Monetary Policy Committee of the Central Bank of the Republic of Turkey governed by Naci Agbal decided to lift the key one-week repo rate sharply to 17.00 percent from 15.00 percent.