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Interest rate pressure on Central Bank mounting

9 7 2

There is pressure on the Turkish Central Bank to raise the interest rates, though it is not clear if it will produce a result or not.

The statements from foreign financial analysts insisting on the necessity of increasing the interest rates, probably with a significant margin, come one after another.

It is hard to predict how the Monetary Policy Committee (PPK) of the Central Bank, which decided to keep the rates unchanged in last month’s meeting, will take a stance against the pressure.

Since there will be no scheduled PPK meeting in the upcoming two months, it needs to hold an emergency meeting to decide on an interest rate hike. However, an emergency meeting does not seem likely considering the policymakers’ attitude.

Actually, the effectiveness of a prospective interest rate hike has been under question. Almost everyone agrees that an interest........

© Hürriyet Daily News