Turkey hikes main interest rate to 17%
- The decision means that Turkey's main rate has soared by 6.75 percentage points in just a month after two years
- The lira gained more than half a percent in value and was trading at around 7.59 against the dollar minutes after the rate decision
Turkey's central bank on Thursday hiked its main interest rate by two percentage points to 17 percent and promised further monetary tightening to help tamp down soaring inflation.
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