EconomicMiddle East

The Central Bank of Turkey Increases Interest Rates for the umpteenth time

IranGate
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The Central Bank of Turkey Increases Interest Rates for the umpteenth time

The Central Bank of Turkey has increased interest rates for the umpteenth time.

In the past five months, the Central Bank of Turkey has increased interest rates in the country, bringing it to 35% with a 5% increase.

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The Central Bank of Turkey has increased interest rates for the umpteenth time.Persian

In the new era of Recep Tayyip Erdogan’s policies following his recent election victory, the Central Bank has reduced interest rates from 85% to 35%.

Previously, Mr. Erdogan’s policy was to lower interest rates, which led to the repeated depreciation of the Turkish lira and an increase in inflation in the country.

This policy faced numerous domestic and international criticisms, ultimately leading him to reshuffle his economic team and increase interest rates.

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