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Turkish cenbank meets, hikes overnight lending rate to 46%

BY Reuters | ECONOMIC | 03/20/25 10:45 AM EDT

ISTANBUL, March 20 (Reuters) - Turkey's central bank said on Thursday that it hiked its overnight lending rate to 46% in an interim monetary policy committee meeting assessing the risks that recent developments may pose to the inflation outlook.

The currency sold off aggressively on Wednesday after authorities detained Istanbul mayor Ekrem Imamoglu, the main political challenger to President Tayyip Erdogan. (Reporting by Ezgi Erkoyun; Editing by Jonathan Spicer)

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