16-October-2024
Economy News
 
Turkish Economy to Cool More Than Government Expects
15-Oct-2024

Turkey's economy will grow 3% this year and next, lower than the government's recently updated forecasts, a Reuters poll of economists showed on Monday, pointing to a much deeper slowdown as authorities seek to douse rampant inflation. Poll respondents also unanimously agreed the central bank would hold its key interest rate at 50% on Thursday, but eventually ease policy by 250 basis points by year-end. Ankara launched its tightening drive in mid-2023 to reverse a years-long low-rates strategy championed by President Tayyip Erdogan to boost economic growth.

News Source:- https://money.usnews.com/investing/news/articles/2024-10-14/turkish-economy-to-cool-more-than-government-expects-reuters-poll