3 ms·

Could be heading to much higher central bank rates there soon then? Historical context: https://tradingeconomics.com/turkey/interest-rate https://tradingeconom

• TicklishTiger 6y ago
  Is that the interest rate at which the turkish central bank lends out money?
• mrtksn 6y ago
  See, Erdogan has this unorthodox economical theory that if you lower the interest rates, the inflation will decrease and the Turkish lira will stabilize. The last central bank head was fired after increasing the rates. Erdogan consistently installed figureheads to high ranking positions to implement his theories and those who failed at it were swiftly removed. The previous Ministry of Treasury and Finance is married to his daughter, for example. The new governor of the central bank is a low grade academician who was paddling Erdogan’s theories in his column at a pro-Erdogan newspaper. Turkey is that close to become Turkmenistan. Turkmenistan at least has gorgeous horse statues.