Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Israeli media platform: The Degel HaTorah party, which has four members in the Knesset, announces its withdrawal from Netanyahu's cabinet.
Local Syrian sources: The raids targeted the road between the village of Al-Mazra'a and the city of Sweida, where forces and factions affiliated with the Syrian Ministry of Defense are advancing.
Local Syrian sources: New raids carried out by Israeli warplanes targeted vehicles and gatherings of military factions affiliated with the new Syrian Ministry of Defense.
Local Syrian sources: Israeli raids target, for the third time, gatherings of Syrian Defense Forces military factions in the southern countryside of Sweida.
The Ministry of Health in Gaza: Gaza Strip hospitals received 120 martyrs and 557 wounded in the past 24 hours.
The Israeli Walla! website: We are running out of stockpiles, our forces are exhausted, and the lives of the captives are in danger. It is time for a ceasefire deal in Gaza.
Several wounded in an Israeli bombardment of a tent in al-Mawasi, south of Khan Younis in the Gaza Strip.
Israeli media: Three wounded, three killed in an ongoing operation in the Gaza Strip.
Al Mayadeen's correspondent in southern Lebanon: Israeli artillery shelling targets the outskirts of the town of Shebaa
Al-Qassam Brigades: The targeting took place at the intersection of 'Street 5' with the western line north of Khan Younis

In a first since July, Turkey does not introduce cuts on interest rate

  • By Al Mayadeen English
  • Source: Agencies
  • 22 Dec 2022 18:10
2 Min Read

Turkish Central Bank announces that it will keep the interest rate at 9% due to the recession and geopolitical uncertainties.

  • x
  • Headquarters of Turkish Central Bank in Ankara.
    Headquarters of Turkish Central Bank in Ankara (AA).

The Turkish Central Bank announced on Thursday that it will not be lowering its interest rate, currently at 9%, which is a first since last July.

The bank justified its decision by stating that it was due to concerns over the economic recession that is caused by geopolitical challenges and rate hikes.

"The Monetary Policy Committee (MPC) has decided to keep the policy rate (one-week repo auction rate) constant at 9 percent," the central bank said.  

Official data released earlier in October revealed that inflation in Turkey has jumped reaching a 24-year high, surpassing 83% in September, just after the Turkish central bank cut then interest rates.

Read more: Turkey maintains floating exchange rate, 5% inflation in 2022

Related News

'Turkey has won': Erdogan hails PKK disarmament

Iraq welcomes PKK’s disarmament as step toward regional stability

Ankara was previously following the West's banking trend by raising interest rates in an effort to combat the nation's spiraling inflation, which analysts fear will only cause a recession.

Turkish President Recep Tayyip Erdogan called earlier the higher rates his "biggest enemy." 

Erdogan focused on growth ahead of the coming elections in June 2023, repeatedly voicing his stance against the increasing rates.

Following his vision, the central bank decreased the policy rate to 12% from 13% last month, while the president insists on more cuts.

It's worth noting that Turkey, dealing with an economic crisis and the deterioration of its currency, the Turkish Lira, has been seeking a revival in its relationship with Gulf countries, with which its ties have been strained since the so-called Arab Spring.

Read more: Turkish lira nears historic lows as it slides again

  • Turkey
  • Turkish Central Bank
  • Turkish lira

Most Read

Hezbollah SG reveals war details on Al Mayadeen for the first time

Hezbollah SG reveals war details on Al Mayadeen for the first time

  • Politics
  • 8 Jul 2025
Major ambush in Gaza kills 6 Israeli troops, injures dozens

Major ambush in Gaza kills 5 Israeli troops, injures 14

  • Politics
  • 8 Jul 2025
Israeli soldiers are seen in Beit Hanoun ahead of an operation by the al-Qassam Brigades, undated (Al-Qassam Brigades Military Media)

'Israel' on blast as media exposes report discrepancies in Gaza ambush

  • Palestine
  • 8 Jul 2025
Yemen Navy sinks ETERNITY C ship, shares footage of operation

Yemen Navy sinks ETERNITY C ship, shares footage of operation

  • Politics
  • 9 Jul 2025

Coverage

All
The Ummah's Martyrs

Read Next

All
The Freedom Flotilla ship Handala as it departs for Gaza, where it aims to break the maritime blockade at a port in Syracuse, Sicily in southern Italy on July 13, 2025. (AFP)
Palestine

Freedom Flotilla's Handala departs Sicily in bid to break Gaza siege

The container ship CMA CGM Laperouse, left, docks at the Georgia Ports Authority's Port of Savannah, Sept. 29, 2021, in Savannah, Ga (AP)
Politics

US shipbuilding woes deepen as tariffs, outdated policies backfire

Gaza war raises ethical questions for ex-Obama, Biden officials
Politics

Mercenary firm tied to Gaza war crimes hires Obama-Biden PR operatives

'Israel' targets children in Gaza collecting water
Palestine

'Israel' strikes Gaza kids fetching water, blames it on 'malfunction'

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS