Turkey Raises Interest Rates 625 Basis Points to 24%
September 13, 2018 at 14:19 PM EDT
To help stem the tide of its record low currency levels amid high inflation, Turkey’s central bank raised interest rates by 625 basis points to 24% in a move that runs counter to President Recep Tayyip Erdogan’s request to keep borrowing costs low. The move by the central bank comes as...