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Turkey’s inflation jumps to 85.51 percent in October

Turkish inflation surged past 85 percent in October, its highest level since 1997, official data showed Thursday, as President Recep Tayyip Erdoğan sticks to...
Business

Turkish central bank cuts rates for third month

Turkey's central bank on Thursday cut its policy rate for the third consecutive month despite plunging lira and an annual inflation rate that has...
Business

Turkey stuns markets by cutting rate despite soaring inflation

Turkey's central bank on Thursday stunned the markets by lowering its main interest rate even as inflation soared to a 24-year high and looks...
Business

Lira hits year low as Turkey holds interest rates

The Turkish lira touched its low for the year on Thursday as the central bank once again refused to raise interest rates to combat...
Business

Turkey’s inflation hits two-decade high of 78.6 percent

Inflation in Turkey in June soared to an annual rate of 78.6 percent -- the highest in 24 years, according to official data released...
Business

Inflation-ravaged Turkey refuses to raise rates

Turkey's central bank on Thursday bucked global trends once again and kept its benchmark interest rate stable despite one of the highest levels of...
Business

Erdoğan says Turkey won’t raise rates in face of soaring inflation

Turkish President Recep Tayyip Erdoğan insisted on Monday that his government was opposed to higher interest rates even as inflation in the country soars...
Business

Turkish inflation hits highest rate since 1998 at 73.5 percent

Turkey's inflation climbed to its highest level since 1998, hitting an annual 73.5 percent in May, official data showed Friday, an issue dogging President...
Business

Turkey keeps interest rates unchanged despite lira, inflation risks

Turkey’s central bank left interest rates unchanged for a fifth month, extending a pause that is coming at a steep cost for the lira,...
Business

Turkey again refuses to raise rates to fight record inflation

Turkey's central bank on Thursday brushed aside an inflation reading that has soared past 60 percent and kept its benchmark interest rate steady for...
Business

Lira plunges again after Erdoğan cites Islam to defend rate cuts

Turkey's troubled lira nosedived Monday after President Recep Tayyip Erdoğan cited Muslim teachings to justify not raising interest rates to stabilize the currency, Agence...
Business

Lira plunges as Turkey cuts interest rate again

The Turkish lira on Thursday hit fresh lows after the central bank fired the latest salvo in President Recep Tayyip Erdoğan's "economic war of...
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