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flag Turkey's central bank hikes interest rate to 46% to fight inflation amid political and economic turmoil.

flag Turkey's central bank raised its key interest rate by 3.5 percentage points to 46%, aiming to combat high inflation and financial instability following the arrest of Istanbul's mayor and impacts of global tariffs. flag The overnight lending and borrowing rates were also increased to 49% and 44.5%, respectively. flag This move marks a shift from the previous easing cycle and aims to achieve price stability.

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