ANKARA - Turkish Central Bank Monetary Policy Committee has raised interest rates by 1.75 percent after it discussed recent developments in money markets in a meeting on Wednesday.
The monetary policy committee increased the overnight borrowing interest rate from 13.25 to 15 percent and the lending interest rate from 16.25 to 18 percent.
Releasing a statement, Central Bank noted that the monetary policy committee revised interest rates to make current inflation tendency to be harmonious with inflation target.
It added, ''with the recent volatility in financial markets, the annual inflation figures may temporarily increase somewhat more in the coming months.''