Turkey's central bank raised its key interest rate for the first time in more than two years on Thursday, and massively, in the first meeting chaired by its newly appointed chief with the aim of establishing disinflation immediately and anchoring the inflation target.
The Monetary Policy Committee of the Central Bank of the Republic of Turkey, or CBRT, headed by the new Governor Hafize Gaye Erkan, decided to hike the policy rate from 8.5 percent to 15.0 percent.
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