“Turkey Central Bank Hikes Rate by Double the Forecast to 40%”
December 6, 2023
“…The Monetary Policy Committee raised the benchmark one-week repo rate by 500 basis points to 40%. The expectation was for an increase of 250 basis points and the currency extended gains after the decision…
The currency’s down almost 35% against the dollar this year. That’s one of the worst performances globally… Despite the tightening, the lira remains vulnerable with year-on-year inflation at 61% at the latest reading in October…”
https://finance.yahoo.com/news/turkey-central-bank-hikes-rate-124008465.html