The Turkish lira exchange rate has updated a historical low on the news about the decision of the Central Bank on the rate. The dollar reached 24 lira for the first time, Report informs citing trading data.
Earlier on Thursday, the regulator raised the key rate for the first time in more than two years - to 15% from 8.5%.
The regulator said it would continue to gradually tighten monetary policy until the inflation outlook improves significantly.
"Monetary tightening will be gradually tightened as needed until the inflation outlook shows a significant improvement. Inflation indicators and inflationary trends will be closely monitored and the Central Bank of Türkiye will continue to resolutely use all available tools in line with the main goal - price stability ", the message says.
It states that the rate will be set in such a way as to "reach the inflation target of 5% over the medium term."