Turkey's central bank has kept its key interest rate at 45%
Recently, the Central Bank of Turkey announced that the Turkish Monetary Policy Committee decided to keep the benchmark interest rate unchanged at 45%. Turkey's central bank has raised interest rates eight times in a row since June, from 8.5 percent to 45 percent along the way, to curb inflation. Since 2022, Turkey's inflation rate has continued to rise, and in October of the same year, the inflation rate once exceeded 85%, the highest in 24 years.