# Turkey’s central bank hiked its key interest rate by 3.5-percentage points to 46-percent today after a month of protests. The rate hike came as Turkey was roiled by street protests against the arrest and jailing of Istanbul’s popular mayor Ekrem Imamoglu on graft charges he denies, which sent the Turkish lira to record lows. In addition to calls for boycotts against companies close to the government, the wave of protests has led to a significant decline in the Istanbul Stock Exchange.
Turkey raises key interest rate to 46%