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In U-turn, Erdogan now willing to hike interest rate

The Morning Standard

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September 08, 2023

TURKISH President Recep Tayyip Erdogan on Wednesday confirmed a major policy reversal by backing his new economic team's decision to drastically hike interest rates to fight runaway inflation.

In U-turn, Erdogan now willing to hike interest rate

Erdogan has been a lifelong opponent of high borrowing costs and pushed past central bank governors to fight inflation with lower interest rates.

Conventional economics says high interest rates help bring down prices by tamping down demand and raising the cost of doing business.

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यह कहानी The Morning Standard के September 08, 2023 संस्करण से ली गई है।

हजारों चुनिंदा प्रीमियम कहानियों और 10,000 से अधिक पत्रिकाओं और समाचार पत्रों तक पहुंचने के लिए मैगज़्टर गोल्ड की सदस्यता लें।

क्या आप पहले से ही ग्राहक हैं?

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