Turkey shocks markets with rate cut despite inflation near 80%

Turkey shocks markets with rate cut despite inflation near 80%

Turkish President Tayyip Erdogan arrives for a NATO summit in Madrid, Spain June 29, 2022. Nacho Doce | Reuters Turkey’s central bank shocked markets Thursday with a cut to its benchmark policy rate, despite inflation in the country sitting near 80%. The country’s currency, the lira, slide 0.9% against the dollar, trading at more than …

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