LAST UPDATE 20:56 The Turkish pound fell to an almost record low on Tuesday following new statements by Turkish President Recep Tayyip Erdogan which opposes any increase in interest rates. The currency reached a low of 13.49 (losses of 4.5% per day) per dollar in electronic trading, approaching the last low of about 13.52 against […]
Tag: Sahap Kavtzioglou
Erdogan cuts interest rates to boomerang ballot box
Turkish President Recep Tayyip Erdogan is forcing the Central Bank of Turkey to cut interest rates to boost economic growth ahead of the 2023 elections. But the president’s pursuit of economic expansion through lower borrowing costs and higher credit – a policy that has borne fruit in the past – can work like a boomerang. […]