Financial News: Turkey Central Bank Unexpectedly Hikes Rate By 350

Turkey Central Bank Unexpectedly Hikes Rate By 350 Bps

04/17/2025 - 07:11:00 (RTTNews)

(RTTNews) - Turkey central bank raised its key interest rates unexpectedly on Thursday citing risks to the disinflation process. The Monetary Policy Committee, headed by Yasar Fatih Karahan, decided to raise the policy rate to 46.0 percent from 42.5 percent.

The bank had reduced the rate by 250 basis points each in December, January and March.

Today, the committee also increased the overnight lending rate to 49 percent from 46 percent and the overnight borrowing rate to 44.5 percent from 41 percent. "The decisiveness regarding tight monetary stance is strengthening the disinflation process through moderation in domestic demand, real appreciation in Turkish lira, and improvement in inflation expectations," the bank said.

"Monetary policy stance will be tightened in case a significant and persistent deterioration in inflation is foreseen," the bank said.

For comments and feedback: contact editorial@rttnews.com

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS

U.S. Consumer Sentiment Unexpectedly Continues To Deteriorate In May (49 min(s), 15 sec(s) ago)
(RTTNews) - Consumer sentiment in the U.S. has unexpectedly continued to deteriorate in the month ...Full Story»

U.S. Import, Export Prices Unexpectedly Inch Higher In April (46 min(s), 15 sec(s) ago)
(RTTNews) - The Labor Department released a report on Friday unexpectedly showing modest increases ...Full Story»

U.S. Housing Starts Rebound Less Than Expected In April, Building Permits Pull Back Sharply (42 min(s), 15 sec(s) ago)
(RTTNews) - While the Commerce Department released a report on Friday showing a rebound by new res ...Full Story»

Eurozone Trade Surplus Surges On Exports To US (56 min(s), 15 sec(s) ago)
(RTTNews) - The euro area trade surplus grew strongly in March as exports to the U.S increased sha ...Full Story»

U.S. Import, Export Prices Unexpectedly Inch Up 0.1% In April (10 min(s), 15 sec(s) ago)
(RTTNews) - The Labor Department released a report on Friday unexpectedly showing modest increases ...Full Story»

U.S. Housing Starts Rebound In April But Building Permits Pull Back Sharply (03 min(s), 15 sec(s) ago)
(RTTNews) - While the Commerce Department released a report on Friday showing a rebound by new res ...Full Story»

Hong Kong Q1 GDP Growth Confirmed At 3.1% (32 min(s), 15 sec(s) ago)
(RTTNews) - Hong Kong's economy expanded at an accelerated pace as initially estimated in th ...Full Story»

Italy Trade Surplus Shrinks In March (06 min(s), 15 sec(s) ago)
(RTTNews) - Italy's foreign trade surplus decreased in March from a year ago as imports grew f ...Full Story»