Turkey Raises Interest Rates to 40 Percent to Tame Runaway InflationThe country's central bank increased rates by 5 percentage points in an attempt to deal with the soaring cost of household necessities and the devaluing of the lira.
Source: Turkey Raises Interest Rates to 40 Percent to Tame Runaway Inflation (https://www.nytimes.com/2023/11/24/business/turkey-interest-rates.html)