The scale of the loss can be gauged from the fact it is slightly more than the annual economic output of Morocco ($132 billion).
US Fed makes biggest rate increase since 2000 to fight inflation
With inflation at the highest rate in four decades, Federal Reserve Chair Jerome Powell sent a message directly to the American people, expressing concern for the pain caused by rising prices, and pledging to use all available tools to bring them down. But he told reporters he remains confident the...Turkish lira makes rare gains on ‘indirect’ rate hike
Turkey's troubled lira on Monday pared back some of its historic losses after President Recep Tayyip Erdogan announced new currency support measures that analysts interpreted as an indirect interest rate hike. Erdogan has pushed the central bank to sharply lower borrowing costs despite the annual rate of inflation soaring to...
