Turkey raises interest rate to 15% from 8.5% to fight inflation

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22 Jun 2023 0 shares 1 views

Turkey raises interest rate to 15% from 8.5% to fight inflation

Turkey raises interest rate to 15% from 8.5% to fight inflation

Upworthy

Published 22 Jun 2023

ISTANBUL -- Two weeks after President Recep Tayyip Erdogan appointed former Goldman Sachs banker Hafize Gaye Erkan as governor, Turkey's central bank delivered a 6.5-point interest rate hike on Thursday, lifting the benchmark rate to 15%. Turkey is facing an inflation rate of 39.6%. The move by…

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