Source link The move has “stunned” economists who expected the central bank to keep rates unchanged The Turkish central bank raised its benchmark interest rate by 500 basis points to 50% on Thursday, citing the need to tame skyrocketing inflation. The hike came as a surprise, as most economists expected the central bank to keep […]
Source link The central bank had previously hiked rates at five successive meetings over a six-month period Russia’s central bank left its key interest rate unaltered at 16% at its scheduled meeting on Friday, saying that tight monetary policy will be necessary to return stubborn inflation back to target levels. The no-change decision comes after […]
Source link The fifth hike since summer comes amid high inflationary pressure, according to the regulator The Bank of Russia on Friday raised the key rate by 100 basis points to 16% per annum, explaining that current inflationary pressures remain high. It’s the fifth hike in a row since summer, when the rates were at […]
Source link Türkiye’s central bank hiked its key interest rate to 40% on Thursday in an effort to tackle soaring inflation. The rise by another 500 basis points from the previous 35% is double the increase that economists expected. The projection was for an increase of 250 basis points. The move was seen by the […]