Turkey’s central bank hits pause, leaves interest rates unchanged (Umar Farooq, Al Jazeera)

January 20, 2022

Turkey’s central bank has ended its latest policy-setting meeting by keeping interest rates unchanged, halting a cycle of cuts initiated last September that economists warned was plunging the country into a deep economic crisis and eroding confidence in the bank’s ability to control inflation.

The central bank on Thursday voted to keep its benchmark interest rate steady at 14 percent. The move was widely expected after a series of interest rate cuts late last year championed by Turkish President Recep Tayyip Erdogan lowered borrowing costs by 5 percentage points and triggered a run on the lira that saw the Turkish currency crash.

Turkey’s central bank hits pause, leaves interest rates unchanged | Business and Economy News | Al Jazeera

Marco Emanuele

Marco Emanuele è appassionato di cultura della complessità, cultura della tecnologia e relazioni internazionali. Approfondisce il pensiero di Hannah Arendt, Edgar Morin, Raimon Panikkar. Marco ha insegnato Evoluzione della Democrazia e Totalitarismi, è l’editor di The Global Eye e scrive per The Science of Where Magazine. Marco Emanuele is passionate about complexity culture, technology culture and international relations. He delves into the thought of Hannah Arendt, Edgar Morin, Raimon Panikkar. He has taught Evolution of Democracy and Totalitarianisms. Marco is editor of The Global Eye and writes for The Science of Where Magazine.

Turkey’s central bank hits pause, leaves interest rates unchanged (Umar Farooq, Al Jazeera)

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