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Central Bank Hikes Interest Rates To Deal With Rising Inflation in Turkey

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@doitvoluntarily
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Turkey central bank recently increased interest rates 19 percent to try and deal with rising inflation in the region.

That interest rate hike was allegedly the 'last straw' to getting that central bank chief in the region fired after only a few months of the position.

With rising inflation the market saw the hike interest rates as a good thing, the Turkish lira strengthened after that move.

But the state was quick to get rid of the chief and some wonder now if they'll return right back to where they were. And if the situation will get worse because of it.

https://www.youtube.com/watch?v=VIRAUQ3i3To

Inflation for Feb was more than 15 percent.

“The high levels of inflation and inflation expectations in the current period require a strict monetary policy stance,” - Gov Şahap Kavcıoğlu

Right now they're looking at a "tight monetary policy" to try and deal with the situation. They are trying to get inflation under control but they join many other nations that are struggling with the same issue and likely many more to follow in the future.