Turkey’s central bank raised its key interest rate to 15% in a major policy shift, abandoning the unconventional economic measures promoted by Turkish President Recep Tayyip Erdogan.
Correlations of the lack of normality in the country in relation to the increase in interest rates carried out by the central bank of Turkey, makes economic analyst Ebru Baki.
“If we lived in a normal period, we would say that interest rates increased to 15%. We would say that it is 6.5% higher and that it is a big increase. But we don’t live normal things, under normal conditions” she explained in order to justify her position.
As summarized by SKAI’s correspondent in Istanbul, Manolis Kostidis, Ms. Baki expressed the belief that citizens are right to wonder given the daily life they experience with the skyrocketing prices in the country.
He pointed to the expensive rents, the cost of school fees, and wages not even enough for food.
“People don’t leave their houses, they don’t talk. They are having difficulties,” he emphasized, adding that now they would be right to ask themselves “you were telling us that interest rates will not increase, why did they increase?”
Turkey’s central bank raised its key interest rate to 15 percent in a major policy shift, abandoning for the first time in two years unconventional economic measures promoted by Turkish President Recep Tayyip Erdogan.
Source :Skai
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