The Bank of England is expected to raise interest rates again next month even though official figures showed wage growth moderating and despite the latest parliamentary tribulations surrounding Brexit.
Colombia’s central bank lowered its benchmark interest rate by 25 basis points in a bid to boost a slowing economy, despite an uptick in inflation estimates and some members’ support for a more severe 50-point cut.
“Yes, it looks like a mess,” said Turkey’s Deputy Prime Minister Mehmet Simsek last week of his country’s image in the eyes of investors and foreign politicians in an early contender for Understatement of The Year. The latest interest rate decision from the country’s central bank will do little to turn that around.
The key lender raised its key rate to 9.5 percent, a 1.5 percent jump from the last increase in July. The bank said the decision greatly weighed on external conditions, such as low oil prices, sanctions, and the weakening ruble, changed “significantly.”