Date: 2 weeks ago   Category: Financial

The Central Bank of Turkey has sharply raised a key interest rate


The Central Bank of Turkey has sharply raised a key interest rate
Before a meeting of the Central Bank the president Erdogan called a rate in 17,75% too high and has urged to lower it. The central bank of Turkey following the results of a meeting on Thursday, September 13, has raised a key interest rate for 6,25% at once – from 17,75% to 24%. Interfax Ukraine reports about it. It is noted that the Central Bank raises a rate already for the third time this year, since the end of April it has increased by 11,25%. Analysts expected increase up to 21%. Before a meeting of the Central Bank on Thursday the president of Turkey Recep Tayyip Erdogan called a rate in 17,75% too high and has urged to lower it. In turn the Turkish lira has passed from decrease more than to 3% to growth by 5% together with US dollar, but by 14:45 across Kiev has slowed down rise to 2,5%. We will remind, Argentina and Turkey at the moment are considered as the most vulnerable countries in sense of a debt load, and events in them are watched closely by investors worldwide. Turkey has faced sharp strengthening of inflation and currency crisis, the lira has fallen in price this year almost by 40% together with US dollar. Growth of consumer prices in Turkey has accelerated in August up to 17,9% in annual terms from 15,85% a month earlier. August inflation was maximum since 2003. Earlier the Central Bank of Argentina has raised a seven-day rate from 45% to 60%. Today is the highest level in the world. This unprecedented decision has been made in response to sharp devaluation of national currency peso which since the beginning of 2018 has lost 54% of the cost. News from the Correspondent.netv of Telegram. Subscribe for our https://t.me/korrespondentnet channel

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