Türkiye, the central bank is heavy on it: interest rates almost doubled

The Turkish central bank is changing course and has inaugurated a new almost "duty" austerity policy in an attempt to recover credibility with the international financial community and defeat galloping inflation. Under the aegis of the new governor, businesswoman Hafize Gaye Erkan, the Monetary Policy Committee, which met today, therefore decided to raise the key interest rate to 15%, almost double from 8.5%. % previous. The decision to start a monetary tightening process was taken in order to start a disinflation process as soon as possible, anchor inflation expectations and monitor price changes.