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Bank Of England Expected To Raise Interest Rates Again
December 15, 2022
January 24, 2025
By Evans Momodu
1 minute read
Turkey’s central bank has cut its key interest rate by 2.5 percentage, bringing it to 45%. This marks the second consecutive rate reduction in as many months, as official data indicates a slowing inflation rate.
Despite the cuts, the central bank emphasized its commitment to tackling inflation, which continues to strain many Turkish households.
"While inflation expectations and pricing behaviour are improving, they still pose risks to the disinflation process," the bank stated.
The central bank affirmed that future decisions would be made cautiously, on a meeting-by-meeting basis, with a strong focus on the inflation outlook.
Source: Sky news
Image: AP
