While Turkey ranks seventh in the world and first in Europe in terms of high interest rates; this situation only benefits rentiers. The Central Bank held its seventh interest rate meeting this year and its fourth meeting under the chairmanship of Şahap Kavcıoğlu yesterday. Once again, disappointment emerged from this meeting and the policy rate remained stable at 19 percent. Thus, no interest rate cuts were made during the 4-month tenure of Central Bank Governor Kavcıoğlu, who was known for his "anti-interest" views before he took office.
NACI AGBAL COULD STAY IN THE SEAT FOR 5 MONTHS
The Central Bank increased the interest rates by 200 basis points from 17 percent to 19 percent at the Monetary Policy Committee (PPK) meeting on March 18, during the term of Naci Ağbal, who was in office for 5 months. Right after the resignation of the Treasury and Finance Minister Berat Albayrak, the interest rate was increased by a total of 8.75 points during the term of Ağbal, who was appointed with the rhetoric of "new era in the economy".
HE IS AGAINST THE INTEREST BUT HE HAS NOT REDUCED RATES YET!
* After Ağbal, who was dismissed at the end of March "on the grounds that he did not lower the interest rate", Prof. Dr. Şahap Kavcıoğlu was brought in. Kavcıoğlu, who frequently voices his "anti-interest" views in his newspaper articles, has not yet reduced the interest rate, which was 19 percent in the 4-month period.
The Central Bank of the Republic of Turkey (TCMB) held its Monetary Policy Committee (PPK) meeting yesterday. In the announcement made by the TCMB, it was reported that the Monetary Policy Committee convened under the chairmanship of TCMB Chairman Şahap Kavcıoğlu decided to keep the policy rate constant at 19 percent. The Central Bank last increased the interest rates by 200 basis points from 17 percent to 19 percent at the PPK meeting on March 18, during the term of Naci Ağbal, who remained in office for 5 months. Right after the resignation of the Treasury and Finance Minister Berat Albayrak, the interest rate was increased by a total of 8.75 points during the term of Ağbal, who was appointed with the rhetoric of "new era in the economy".