Turkey Slashes Interest Rate in Line With Erdogan’s Demand
- Policy makers cut benchmark rate for fourth time in a row
- Inflation is now running 17 times higher than official target
A mural of Recep Erdogan in Bursa.
Photographer: Moe Zoyari/BloombergThis article is for subscribers only.
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Turkey’s central bank said it’s ending its monetary easing cycle, bowing to a call by President Recep Tayyip Erdogan to take interest rates into single digits by the end of the year.