Turkey reduces interest rate to 36
The Turkish Central Bank lowered its main interest rate to 36%, marking the first decrease in nine months, supported by the recent slowdown in inflation which fell to 29.7% in September, the lowest level in about five years. While the bank confirmed that the data indicate a continued downward trend in inflation, it also pointed out that geopolitical tensions still impact energy prices, which could cause inflation to rise again. Despite the decline in inflation in official data, independent groups have raised doubts, suggesting that the actual inflation rate may be as high as 46.6%.
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