Turkish central bank cuts rates again despite high inflation ...Kuwait

The New Arab - News

Turkey’s central bank delivered another outsized interest rate cut Thursday despite inflation running at more than 85% and other countries moving the opposite way to ease the pain of soaring prices. The central bank said its Monetary Policy Committee decided to lower the benchmark policy rate by 1.5 percentage points to 9%, following a series of similar jumbo cuts. The move is in line with President Recep Tayyip Erdogan’s unorthodox economic views that high borrowing costs cause high inflation, even though traditional economic thinking says raising interest rates help tame inflation. Erdogan had called for a single-digit interest rate by the end of the year. He is co

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Last updated : 24 Nov 2022 clock 04:57 PM

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Turkish central bank cuts rates again despite high inflation ...Kuwait

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