The high inflation puts the population under pressure.
(Photo: Bloomberg/Getty Images)
Dusseldorf The Turkish central bank has raised interest rates in light of high inflation in the country. The key interest rate rises by 2.5 percentage points to 17.5 percent. This was announced by the monetary authorities on Thursday.
An increase had been expected, but it was less than expected. Analysts surveyed by Bloomberg had expected a new level of 18.5 percent on average. A Reuters survey even had a consensus of 20 percent.
Although the inflation rate has recently fallen significantly, it is still at a very high level of more than 38 percent. The central bank is actually aiming for an inflation rate of five percent.
The latest indicators suggest “that the underlying inflation trend is continuing to rise,” writes the central bank in its statement. Among other things, she points to strong domestic demand and the effect of higher wages.
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