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Turkey records worst inflation in over 24 years

Turkey records worst inflation in over 24 years

ArabFinance: Annual inflation in Turkey soared to 85.51% in October, the highest level since June 1998, Reuters reported on November 3rd.

Central Bank of the Republic of Turkey decided on October 27th to reduce its policy rate by 150 basis points (bps).

Moreover, Turkish consumer prices grew 3.54% month-on-month (MoM) in October.

By 07:38 AM, Eastern Time, the Turkish Lira recorded TRY 18.6211 against the USD.

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