The bank´s intervention was the latest aggressive rate hike to calm economic turbulence in an emerging market after the Argentinian central bank´s recent hike from 45 to 60 percent on August 30.
Erdogan called on Turkey's exporters to take advantage of the current levels in foreign exchange rates to increase the volume of exports, and production and employment as well.
The bank described the hike as a "strong monetary tightening to support price stability". The lira surged against the dollar to near 6.00 on the announcement from 6.40 levels earlier. In a bid to shore up the Turkish lira, Erdoğan's government issued a decree on Thursday banning the use of foreign currency in the sale and renting of property and the leasing of vehicles.
There had been indications from the bank that it would raise rates after inflation came in at almost 18 per cent in August, according to official data last week.
It said the policy would be "maintained decisively until inflation outlook displays a significant improvement".
But Neuteboom of ABN Amro said much more was needed for Turkey to turn around "the negative spiral" the economy is in.
Now Erdogan, long derided for his contrarian view that cutting rates slows inflation, is suddenly being lauded for allowing monetary authorities to follow orthodox prescriptions for common ills - all while enhancing his reputation as the defender of small businesses struggling with the rising price of money.
The embattled currency has fallen by 40% this year amid a lack of interest rate hikes to control inflation.
The bank later said funding would be provided via the policy rate, the one week repo auction rate, instead of through overnight lending from September 14.
"By saying the central bank is independent while criticizing it for misguided policies, Erdogan is pointing the finger of blame at the central bank".
The warning came after his USA counterpart, Donald Trump, escalated a feud by doubling tariffs on metals imports.
Mr Manafort would become the most prominent former Trump campaign official to plead guilty in Mueller's investigation. Trump's former fixer and lawyer, Michael Cohen, admitted financial crimes and is helping federal prosecutors in NY .
Nevertheless, the Forensic anthropologists are now combing all the remains in a secure facility in Joint Base Pearl Harbor-Hickam. She spoke above tables of bone fragments, still separated with numbers corresponding with the 55 boxes.
Among the attendees were Hassan and Hussain Nawaz, Shehbaz Sharif, PML-N leaders Chaudhry Nisar and Muhammad Ishaq Dar. Her funeral prayers were led by Maulana Tariq Jameel at a ground at Sharif Medical City, Dawn reports.
I've been using Moment lenses with my iPhone X pretty much all year and they're absolutely wonderful . The year-old phone was Apple's flagship product last year, and it was warmly received by critics .
Apple said that the iPhone X should be pronounced "iPhone Ten", but customers are still referring to it as the "iPhone Ex". Apple is expected to announce two new OLED iPhones as the successors to the iPhone X that was launched previous year .
ET, Florence was located about 435 miles southeast of Wilmington, North Carolina moving at just 16 m.p.h. Workers are being brought in from the Midwest and Florida to help in the storm's aftermath, it said.
The popular portrait mode, which de-focuses the background of a photo to emphasize the subject, has a new setting. For example, the iPhone XR costs £749, £799 or £899 in the United Kingdom , depending on the capacity.
Putting the enormity of Hurricane Florence into perspective
Cooper said 108 shelters are open across the state, with more than 7,000 people already staying at them, as of Thursday afternoon. North Carolina Governor Roy Cooper warned people: "Today the threat becomes a reality". "I've got four cats inside the house".
Afghan bombing death toll rises to 68
Afghan president Ashraf Ghani strongly condemned the suicide attack against the demonstrators in Nangarhar. A suicide bomber on Tuesday targeted a protest in Mohmand Dara district in Nangarhar province.
Seattle Storm wins third WNBA title
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Dele Alli and Hugo Lloris ruled out of Liverpool match
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