HomeEconomyCentral Bank of Turkey...

Central Bank of Turkey raises discount rate to 35%

The Monetary Policy Committee made this decision to achieve deflation more quickly.

The Central Bank of Turkey raised its key discount rate from 30 to 35%. This was stated in the regulator’s press release published on October 6.

It was noted that the decision aims to “accelerate the achievement of deflation, consolidate inflation expectations and contain the deterioration of price behavior.”

At the same time, it was noted that “in the third quarter, inflation was higher than expected.”

We remind you that until June 2023 the key rate remains at 8.5%. According to Turkey’s political leadership, its preservation should have prevented inflation, but it did not.

Prices continued to rise, and the national currency depreciated. Therefore, on June 22, the regulator raised the rate to 15% for the first time in more than two years, and then did it three times.

In the past five months, Turkey’s national currency has fallen by more than 30% against the dollar. In October, the country’s currency reached a historic low against the dollar, exceeding 28 lira per dollar.

Let’s remember that at the end of 2021, Turkey was hit by a large-scale currency crisis.

The NBU announced a sharp reduction in the discount rate
New Correspondent.net on Telegram and WhatsApp. Subscribe to our channels Athletistic and WhatsApp

Source: korrespondent

- A word from our sponsors -

Most Popular

LEAVE A REPLY

Please enter your comment!
Please enter your name here

More from Author

- A word from our sponsors -

Read Now

The terrorists of the Russian Federation shot once a day at the booths on Kharkiv: a refusal of a woman, painful 10 wounded (photo,...

Russian freaks struck Harkiva Kabama on June 7. .in_text_content_22 {width: 300px; Height: 600px; } @Media (min-width: 600px) {.in_text_content_22 {width: 580px; Height: 400px; }} .Adsbygoogle {Touch-Action: Manipulation; } As a result of the arrival of the two cabs in the Shevchenkivsky area,...

Ukrainian sleepers, attacking the industrial zone of the non -frauded plant “Lucuel” in the Nizhny region in Novgorod

In the city of KSTVO, Nizhny of the Novgorod region of the Russian Federation, after high -profile explosions, the Bitumen Lukuil plant caught fire. .in_text_content_22 {width: 300px; Height: 600px; } @Media (min-width: 600px) {.in_text_content_22 {width: 580px; Height: 400px; }} .Adsbygoogle {Touch-Action: Manipulation; } ...

EC can dig up the fabric on lobbyists of its climate station

The Welt Am Sonntag newspaper gained access to secret documents and found that the EU, obviously, spent tax money on dubious lobbying activities to convince the public in its climatic policy. .in_text_content_22 {width: 300px; Height: 600px; } @Media (min-width: 600px) {.in_text_content_22 {width: 580px; Height:...

One does not go, the other was injured, the third – with the tail: “Belik Angels” Evakuirod, who are women from burning (video)

The Police of the White Angel evacuated three elderly women from the border. .in_text_content_22 {width: 300px; Height: 600px; } @Media (min-width: 600px) {.in_text_content_22 {width: 580px; Height: 400px; }} .Adsbygoogle {Touch-Action: Manipulation; } The evacuation was not simple. Two women were brought...