Turkey's Central Bank Lifts Key Rates Drastically

In a bid to bolster the Turkish lira, the central bank lifted its key rates drastically, as expected, on Thursday under the new governorship. At the first policy meeting of Naci Agbal as governor of the Central Bank of the Republic of Turkey, the Monetary Policy Committee raised the key one-week repo rate sharply to 10.25 percent from 15.00 percent.