Annual inflation rate surged 80% in Turkey after interest rate cuts and depreciating Turkish lira (TRY) pushed inflation in the transcontinental nation to a 24-year high in August.
The Central Bank of Turkiye (CBRT) implemented a surprise 100 basis points (bps) rate cut in August, having slashed lending rates by 500 bps in the last three months of 2021.
With the…