Turkey’s central bank on Thursday resumed its policy of lowering a key interest rate even as the country grapples with high inflation and the aftermath of a devastating earthquake. The bank’s Monetary Policy Committee said it cut the benchmark policy rate by 0.5 of a percentage point, down to 8.5%. The Central Bank of the Republic of Turkey, slashed the benchmark rate by 5 percentage points - down to 9% - between August and November but had left rates unchanged since then. The cuts have come despite the country's high inflation, which currently stands at 57.68% and has caused a cost-of-living crisis. Central banks around the world have raised rates to fight inflation
Hence then, the article about turkey cuts bank rate even as it grapples with earthquake was published today ( ) and is available onThe New Arab ( Kuwait ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
Read More Details Finally We wish PressBee provided you with enough information of ( Turkey cuts bank rate even as it grapples with earthquake )