( ) -q-17- UNDATED (Correspondent Jeremy House) “Recep Tayyip Erdogan.” Turkey’s central bank is raising its key interest rate to 17.5%. [CutID: <Cuts> TURKEY-INT-RATE-house-q-THUam.mp3 Time: 17s Title: TURKEY-INT-RATE-house-q-THUam Out-cue: Recep Tayyip Erdogan] TAG: Correspondent Jeremy House reporting. The bank started cutting rates in late 2021 in line with Erdogan’s belief that lowering interest rates fights […]
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Turkey raises its key interest rate to 17.5%
( ) -q-17- UNDATED (Correspondent Jeremy House) “Recep Tayyip Erdogan.”
Turkey’s central bank is raising its key interest rate to 17.5%.
[CutID: <Cuts> TURKEY-INT-RATE-house-q-THUam.mp3
Time: 17s
Title: TURKEY-INT-RATE-house-q-THUam
Out-cue: Recep Tayyip Erdogan]
TAG: Correspondent Jeremy House reporting. The bank started cutting rates in late 2021 in line with Erdogan’s belief that lowering interest rates fights inflation, contradicting traditional economic theory.
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VERBATIM: It’s a further sign of commitment to orthodox economic policy following elections in May. The 2.5 percentage point hike came a month after the bank raised rates from 8.5% to 15%. That followed more than a year of rate-cutting prompted by President Recep Tayyip Erdogan.