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Turkey slashes interest rates by 150 basis points despite inflation at 83%

Por: CNBC Business October 20, 2022

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Turkey's President Recep Tayyip Erdogan attends a press conference after his meeting with Venezuelan President in Ankara on June 8, 2022.Adem Altan AFP Getty ImagesTurkey's central bank on Thursday slashed its key interest rate by 150 basis points for the , from 12% to 10.5% — despite Turkish inflation at more than 83%.Market analysts expected a 100 basis point cut, so the move still managed to take many by surprise despite the... + full article



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