17 0

LONDON (Reuters) - Turkish policymakers are no strangers to unexpected action when in a tight corner, but analysts said Thursday’s surprise interest rate hike could herald a change of tack on monetary policy. FILE PHOTO: Turkish lira banknotes are seen in this illustration taken January 6, 2020. REUTERS/Dado Ruvic/Illustration. Although raising rates by 200 basis points during a global pandemic and slump is unusual, analysts welcomed the Central Bank of Turkey’s (CBT) response in the face of rising inflation. “It was a bold move by the CBT which should restore credibility and improve investor sentiment,” said Christian Wietoska at Deutsche Bank, calling it a “game changer”. The hike was sw... Full story

26 September