Turkish central bank raises overnight lending rate
Ankara - AFP
Turkey's central bank hiked key interest rates after a crisis meeting late Tuesday, in a bold move that bolstered the lira to 2.18 against the dollar from around 2.25. The bank hiked its overnight lending rate to 12 percent from 7.75 percent, the borrowing rate from 3.5 percent to 8 percent, and one-week repo rate to 10 percent from 4.5 percent, it said in a statement on its website.
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