Turkey's central bank left its key interest rates unchanged on Thursday after lowering them sharply over the past four meetings as President Recep Tayyip Erdogan in Ankara raised the monthly minimum wage by nearly 55 percent to support households reeling under the pressure of rising cost of living and sky-rocketing inflation.
The Monetary Policy Committee of the Central Bank of the Republic of Turkey decided to hold the policy rate at 9.00 percent, as widely expected.
The bank has lowered the policy rate by a cumulative 500 basis points since August despite inflation rising persistently. In November, consumer price inflation remained near 85 percent.
Subscribe to continue reading the article.
This article is part of our premium content offering.Subscribe with a RTTNews subscription.
Subscribe NowAlready subscribed? Sign in
by Renju Jaya
For comments and feedback: contact editorial@rttnews.com