Hiking the interest rate by 30% in Q3, a surprising move by the Turkish central bank, showcased Turkey's dedication to addressing inflation through proactive monetary policy actions. Following the country's shift toward a more aggressive monetary policy tightening approach, S&P Global Ratings recently upgraded its outlook on Turkey from "negative" to "stable." This revision is attributed to Turkey's efforts to temper an overheated economy, stabilize the exchange rate, and bolster the financial situation.