Turkey: Turkish central bank continues to lower interest rates

Turkey: Turkish central bank continues to lower interest rates

       Turkey Turkish central bank continues to lower interest rates Interest rates in Turkey will continue to be cut to boost the economy. This should please President Recep Tayyip Erdogan in particular. Share article by: Share article by: The Turkish central bank has further reduced its key interest rate. As the central bank announced in Ankara on Thursday, the one-week interest rate drops by 0, 75 percentage points to 11, 25 percent. On average, analysts had expected a reduction of this extent. However, the respective expectations of the experts differed significantly. The central bank continues its policy of falling key interest rates. In the past year, the monetary authorities had cut their key interest rate by a total of 12 percentage points. This was due to falling inflation and a recovery in the lira, which was previously in a severe crisis. The lower interest rates are expected to boost the economy. President Recep Tayyip Erdogan is pushing the central bank in this direction. He also takes the view that high key interest rates do not fight inflation, but promote it. This opinion is not shared by most economists because it contradicts the textbook opinion. Share article by: Share article by: © Handelsblatt GmbH – All rights reserved. Acquire usage rights?          Services offered by our partners       
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