Roundup: Turkish central bank raises key rate to combat inflation

by Burak Akinci

ANKARA, March 21 (Xinhua) -- In a move that surprised the market, Türkiye's central bank raised its key interest rate by 5 percentage points on Thursday, reversing a one-month pause and responding to calls for stronger action to fight soaring inflation.

The bank raised its one-week repo rate to 50 percent from 45 percent, citing the need to counter rising prices. The move surprised an