By Maria MartinezThe Turkish central bank on Thursday reduced its benchmark rate to 9% from 10.5%, even as inflation reached its highest level in almost 25 years in October. The bank was largely expected to cut interest rates to 9%. The consumer price index--which measures what consumers pay for goods and services--increased 85.5% in October on year, quickening from a 83.5% rise in September. Write to Maria Martinez at maria.martinez@wsj.com-Maria Martinez(END) Dow Jones Newswires11-24-22 0716ETCopyright (c) 2022 Dow Jones & Company, Inc.

Source: Wall Street Journal November 24, 2022 18:20 UTC