Turkey's central bank hikes interest rate by 500 basis points to 40%, well above expectations
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Turkey's Taksim Square, with the figure of Kemal Ataturk, the first president, and the Turkish flag in the background. Turkey's central bank on Thursday hiked its key interest rate, the benchmark one-week repo rate, by another 500 basis points to 40%. The hike was double economists' expectations,…
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