Turkish central bank cuts rates again as inflation rockets ...Kuwait

Turkey's central bank on Thursday cut its policy rate for the third consecutive month despite a plunging lira and an annual inflation rate that has soared over 83 percent. Turkey's monetary policymakers are bucking the global trend of central banks raising interest rates to combat inflation, as high borrowing rates cool down the economy and prices. The latest decision comes after President Recep Tayyip Erdogan said the central bank would keep cutting rates every month for "as long as I am in power" - and despite inflation hitting 83.45 percent in September on an annual basis. Erdogan wants to lower interest rates to single digits by the end of the year as he prioritis

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