World News@lemmy.worldEnglish · 1 year ago

Turkey's central bank hikes interest rate by 500 basis points to 40%, well above expectations

www.cnbc.com

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Turkey's central bank hikes interest rate by 500 basis points to 40%, well above expectations

www.cnbc.com

Lee Duna@lemmy.nz to

World News@lemmy.worldEnglish · 1 year ago

Turkey's central bank on Thursday hiked its main interest rate by 500 basis points to 40% in a move that was larger than expected by economists.

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madcaesar@lemmy.world
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1 year ago
40% interest?? Is this true lol wtf are credit cards over there then? 80%??
- Habahnow@sh.itjust.works
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  1 year ago
  Probably higher. Turkey has experienced an inflation rate of about 80%. So CCs probably have a higher rate because of that

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