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Turkey's central bank hikes interest rate to 50%
Turkey's central bank hikes interest rate to 50%
by  AFP

Turkey's central bank hiked its key interest rate on Thursday, resuming its tightening cycle as one of the world's highest inflation rates rose again last month. The central bank said Thursday that its "monetary policy stance will be tightened in case a significant and persistent deterioration in inflation is foreseen".

Switzerland becomes first developed economy to cut interest rate
Switzerland becomes first developed economy to cut interest rate
by  AFP

The Swiss National Bank cut interest rates on Thursday -- the first to do so among the major central banks, saying the battle against inflation was working almost two years after launching its monetary tightening campaign. And the Norwegian central bank on Thursday kept its key interest rate unchanged at 4.5 percent but signalled it could start cutting later this year.

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