Investing.com - Turkish central bank raised the Overnight Lending Rate to 12.00% in a massive interest rate hike in order to protect the value of the Turkish Lira.
Analysts had expected Turkish Overnight Lending Rate to rise to 10.00%.
Following the release of the data, the Turkish Lira is soaring, with USD/TRY tumbling more than 3% to trade at 2.1814.
Analysts had expected Turkish Overnight Lending Rate to rise to 10.00%.
Following the release of the data, the Turkish Lira is soaring, with USD/TRY tumbling more than 3% to trade at 2.1814.