TURKEYNTRAL BANK (CBRT) RAISES OVERNIGHT LENDING RATE BY 425BPS FROM 7.75% TO 12.00% (MORE THAN 225BPS EXPECTED)
- RAISES Repurchase Rate by 550bps from 4.50% to 10.00%
- RAISES Overnight Borrowing Rate by 450bps from 3.50% to 8.00%
**Note: Analysts had expected Turkey to raise the Overnight Lending Rate by 225bps to 10.00% while keeping other rates steady