Turkish central bank raises interest rate to 46 percent

Erdogan’s crackdown on presidential rival fuels $45 billion economic fallout in Turkey - Nordic Monitor

Levent Kenez/Stockholm Turkish President Recep Tayyip Erdogan’s aggressive political maneuvering to eliminate his chief rival, Istanbul Mayor Ekrem Imamoglu, from the presidential race is triggering deep political unrest and inflicting serious damage on Turkey’s economy, analysts and financial data suggest. Imamoglu, the newly declared presidential candidate of the main opposition Republican People’s Party (CHP), was detained on March 19 and arr…

Turkey Must Adopt Free Markets to Revitalize Its Faltering Economy

Turkey’s economy is in crisis. The country is facing one of the worst economic downturns in its modern history. Inflation has skyrocketed, the Turkish lira has lost significant value, and the cost of living is suffocating ordinary citizens. The economic policies of recent years—characterized by state-controlled interest rates, excessive public spending and heavy-handed intervention in markets—have only deepened the structural problems. Instead o…

Turkey’s central bank raises interest rate to 46%

Unexpected move comes after US tariffs and arrest of President Recep Tayyip Erdoğan’s main political rival

Turkey’s central bank hikes key interest rate to 46% amid political turmoil and global tariffs

Turkey’s central bank has raised its key interest rate by 3.5 percentage points and halted a three‑month easing streak as it confronts stubborn inflation and financial turbulence following the arrest of Istanbul’s mayor and aftershocks of global tariffs.

Turkish central bank raises interest rate to 46 percent

Turkey's central bank hiked its key interest rate to 46 percent on Thursday after a month of protests over the arrest of Istanbul's opposition mayor and economic uncertainty provoked by US President Donald Trump's sweeping tariffs.

The arrest of Turkish opposition politician Ekrem İmamoğlu caused turbulence in the financial markets in Turkey. The central bank responded to this.