Turkey raises minimum wage, keeps interest rates unchanged

Inflation is running rampant in Turkey, but the president continues to stubbornly reject higher interest rates.
Chris McGrath/Getty Images
A man pulls a cart of merchandise through a busy market street on Nov. 3, 2022, in Istanbul, Turkey. - Chris McGrath/Getty Images
Al Monitor: The Pulse of the Middle East
Al-Monitor Staff

Turkey is finished cutting interest rates in 2022. 

The Turkish Central Bank’s Monetary Policy Committee said Thursday that it would keep its main policy rate at 9%. The bank said that Turkish economic growth is “strong,” but that there are concerns about the global economy. 

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