Markets focused on the policy rate decision of the Central Bank of the Republic of Turkey (CBRT) Monetary Policy Committee (PPK).
The decision will be announced on Thursday, April 25 at 14:00.
Expectations in the markets are that the policy rate will be kept constant at 50 percent.
500 BASE POINT INCREASE PROPOSAL
Hakan Kara, former Chief Economist of CBRT, gave advice to the Central Bank before the critical decision.
Hakan Kara shared his opinion that the Central Bank should increase the interest rate by 500 basis points to 55 percent.
Prof. works at Bilkent University, Department of Economics. Dr. Kara also stated that the Center should “remove complex regulations on banks and companies and allow the exchange rate to fluctuate more.”
Hakan Kara said, “If this can be done, the deposit and loan structure will become more equitable, the exchange rate market and the whole system will be relieved.”
Tags: Central Bank Prof Remarkable warning Hakan Kara Minute Economy News
