Turkey's central bank raises interest rate to 50% despite previous hints of end to hike cycle

1 month ago 27

A picture taken on August 14, 2018 shows the logo of Turkey's Central Bank at the entrance of its headquarters in Ankara, Turkey.

ADEM ALTAN | AFP | Getty Images

Turkey's central bank on Thursday raised its key interest rate, the one-week repo rate, from 45% to 50%, citing the continuing need to counter climbing inflation in the country.

This breaking news story is being updated.

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