Turkey’s central bank unexpectedly raised its key interest rate by 500 basis points to 50 per cent on Thursday, citing a deteriorating inflation outlook and pledging to keep a tight stance until there is a significant and sustained drop in the trend.
The “tight monetary stance will be maintained until a significant and sustained decline in the underlying trend of monthly inflation is observed, and inflation expectations converge to the projected forecast range,” the policy committee said. Inflation rose to a higher than expected 67 per cent last month, when the central bank had held rates steady after a sustained string of hikes.
Source: Loan Digest (loandigest.net)
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Cougars sponsoring Mega 50-50 draw for March 23 Retro Night regular-season finaleAll draw proceeds will go to Spirit of the North Healthcare Foundation to buy hospital equipment
Source: PGCitizen - 🏆 65. / 51 Read more »
U.S. announces 500 new sanctions targeting Russia over Navalny death, Ukraine warU.S. President Joe Biden speaks with Yulia Navalnaya and Dasha Navalnaya, the wife and daughter of Alexei Navalny, the Russian opposition leader who died last week in a prison camp, in San Francisco, California U.S. February 22, 2024.
Source: CBCNews - 🏆 2. / 99 Read more »
Stock market today: S&P 500 poised for new record with Powell back in spotlightInvestors are looking for further clues on the path of interest rates in Jerome Powell's second day of testimony.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
Here’s what’s going on with Bitcoin, Ethereum, and the S&P 500The probability of a sustained bull trend is higher now, with Bitcoin and Ethereum trending above equities for the past few days.
Source: CryptoAmb - 🏆 22. / 68 Read more »
Bubble Angst Belied by Big-Tech Weaklings, Broader S&P 500 GainsUS stocks’ torrid climb to start 2024 is evoking worrisome comparisons with past boom-and-bust cycles on Wall Street, sparking debate over the risk that the market is overheating.
Source: BNNBloomberg - 🏆 83. / 50 Read more »
Measuring S&P 500 against Russell 2000 could indicate large-cap weaknessThe recent weakness in Apple stock – it’s down 13 per cent since Dec. 15, and Tesla, lower by 30 per cent for the same period – might be a sign of things to come
Source: globebusiness - 🏆 31. / 66 Read more »