ANKARA, Turkey (AP) — Turkey’s central bank delivered another huge interest rate hike on Thursday as it tries to curb double-digit inflation that has left households struggling to afford food and other basic goods. The bank pushed its policy rate up by 5 percentage points, to 40%, marking its sixth big interest rate hike in a row focused on beating down inflation that hit an eye-watering 61.36% last month. However, the bank said its rate hikes would soon end.
Turkey's central bank hikes interest rates again as it tries to tame eye-watering inflation