English

A man purchases food from a street vendor at Kadikoy ferry terminal in Istanbul, Thursday, Nov. 16, 2023.

Economy

Video. Turkey hikes interest rate to 40% - highest in 20 years

Updated: 24/11/2023 - 13:01 GMT+1

Turkey's central bank has implemented a sixth consecutive interest rate hike, reaching 40%, in a surprising shift to counter the country's staggering 61.36% inflation.

Read full article

Top stories

Now playing Next

Latest news bulletin | February 23rd, 2026 – Evening

Now playing Next

British police arrest former UK ambassador Peter Mandelson in probe into Epstein ties

Now playing Next

EU accuses Hungary of disloyalty for vetoing €90 billion loan to Ukraine

Now playing Next

How deepfake scams are reaching record levels by targeting social media users

Now playing Next

Swedish foreign minister 'frustrated' by Hungary's 'illogical' blocking of Ukraine loan

Now playing Next

MEPs freeze US trade deal after Trump erupts over Supreme Court ruling

ADVERTISEMENT

ADVERTISEMENT

More from Economy

Economy

ECB says 'no decision made' on Lagarde's potential early exit amid reports

Economy

Uzbekistan’s reserves climb to $75bn, gold dominates at 85%

Economy

Eurozone trade ends 2025 with a €12.6bn surprise surplus

Economy

Russia's oil revenues dwindle as sanctions bite, hitting economy

Latest video

Sci-Tech

How Japan is revolutionising healthcare with personalised genetic data and targeted exosome therapy

Europe News

'Why do you hate Ukraine?' Hungarian minister clashes with Ukrainian journalists in Brussels

No Comment

Visitors take in snowy NYC ahead of traffic closure

Netherlands

New Dutch minority government sworn in under centrist Prime Minister Rob Jetten

Europe News

Double Hungarian veto thwarts loan for Ukraine and new sanctions on Russia

Europe Today

Change EU rules to stop Hungary's abuse of veto, Lithuanian foreign minister says

Europe in Motion

Europe's 'loud killer': Which countries suffer most from noise pollution?

Europe Today

Watch the video: Trump vs US Supreme Court — the homeland tariff war

ADVERTISEMENT

Europe Today

Delays to Russia sanctions 'failure for Europe,' Swedish foreign minister tells Euronews

No Comment

Verona protesters say Italy’s winter Olympics waste public money

No Comment

Deadly Russian strikes pound Kyiv suburb and energy sites across Ukraine

No Comment

Ukraine probes deadly Lviv blasts that killed police officer

Cinema

BAFTA 2026: 'One Battle After Another' takes six awards, 'Sinners' and 'Frankenstein' win three each

Europe Today

Europe Today: EU foreign ministers meet as Hungary blocks Ukraine loan

Mexico

Death of cartel boss El Mencho triggers violence across Mexico

Culture news

Sacred bones: Thousands of pilgrims flock to see historic remains of St Francis of Assisi

ADVERTISEMENT

ADVERTISEMENT