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Turkey's Central Bank Slashes Interest Rate to 30% by Year-End

2/18/2025

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Summary

Story summary

Turkey's Central Bank, under Governor Fatih Karahan, plans to reduce the policy interest rate to 30% by year-end.
Recent cuts of 250 basis points have lowered the rate from 50% to 45%.
Karahan advocates for a flexible, data-driven monetary policy responsive to economic indicators.
Annual inflation in Turkey stands at 42.12% in January, driven by wage increases and price adjustments.

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Story summary

Turkey's Central Bank, under Governor Fatih Karahan, plans to reduce the policy interest rate to 30% by year-end.
Recent cuts of 250 basis points have lowered the rate from 50% to 45%.
Karahan advocates for a flexible, data-driven monetary policy responsive to economic indicators.
Annual inflation in Turkey stands at 42.12% in January, driven by wage increases and price adjustments.