Central Bank of the Republic of Türkiye announced interest rate decision

The interest rate decision, which the markets were eagerly waiting for, was announced.

CBRT Monetary Policy Committee raised the policy rate by 500 basis points to 40 percent at its November meeting.

CBRT had raised interest rates by 650 basis points in June, 250 basis points in July, 750 basis points in August, 500 basis points in September and October, totaling 2,650 basis points in five meetings. With the latest increase, the total interest rate hike reached 3,150 basis points. In other words, the interest rate increased by 31.5 points in 6 months.