Hawkish rise 10 days before local elections is seen as a signal of independence from politics

Hawkish rise 10 days before local elections is seen as a signal of independence from politics

Turkey’s central bank unexpectedly raised interest rates to 50% on Thursday, citing a deteriorating inflation outlook and pledging to tighten further if it looks like inflation is significantly and persistently worsening.

The hawkish move came 10 days before local elections and was seen by analysts as a signal that the central bank was independent from any political constraints and determined to tackle price rises.

The lira rallied by as much as 1.5% to 31.91 against the dollar in response to the hike from the previous 45% rate, reversing weeks of steady declines in the Turkish currency, and Turkey’s dollar bonds extended a rally.

  • blackfire@lemmy.worldEnglish
    15·
    8 months ago

    I don’t know what they can do to curb this. Its been screwed for well over a decade. What do they need to do to fix their economy?

      • Land_Strider@lemmy.worldEnglish
        23·
        8 months ago

        Stop being fucking idiots for the nth time in the last 20 years, get rid of the defacto dictator Erdoğan, gain some economic trust by not replacing him with even more stupid and outright religious lunatics that got a lot of courage lately, work legally and financially to retake the seaports, airports, defense industry corps, quarries, etc that were sold mostly to Qatari corps and billionaires, reinstate the border control to prevent the flood of Al-queda, ISIS, PKK-YPG, Hezbollah terrorist blending with illegal refugees (which number more than some European countries’ total populations already), work with Syrian dictator and ensure safe return of Syrian refugees and don’t let the matter fall into the hands of western or Russian politics this much.

        Basically some proper leftist line of thought and actions, which is unfortunately waning very quickly all over the world, for the next decade or two to get on track for development and prosperity.