Turkish central bank raises interest rate to 15 pct in policy U-turn

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Turkish central bank raises interest rate to 15 pct in policy U-turn

STORY: Turkish central bank raises interest rate to 15 pct in policy U-turn DATELINE: June 23, 2023 LENGTH: 00:01:22 LOCATION: Ankara CATEGORY: ECONOMY SHOTLIST: 1. various of the Turkish central bank 2. various of Turkish lira 3. various of people at cashpoints in Türkiye 4. various of Turkish lira 5. various of the Turkish central bank 6. Turkish President Recep Tayyip Erdogan 7. various of Hafize Gaye Erkan, the governor of the Turkish Central Bank (courtesy of ihlas news agency) 8. Turkish President Recep Tayyip Erdogan 9. various of the Turkish central bank 10. various of Turkish lira STORYLINE: The Turkish central bank on Thursday announced a benchmark interest rate hike from 8.5 percent to 15 percent, in a policy U-turn toward monetary tightening to counter higher inflation. According to a statement from the central bank, its Monetary Policy Committee made the decision to tighten monetary conditions in order to bring down inflation, stabilize inflation expectations, and control pricing behavior. "

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