Turkey's has seen a major shift in its approach towards managing sky-high inflation. For the first time in nearly 3 years, the country's central bank has hiked its interest rates. The lending rate has been hiked from 8.5% to 15%. That's a massive 6.5 percentage point rise, which is lower than what analysts expected but it is significant as it is the first rate hike since December 2020.

Turkey's central bank hikes rate to 15%

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