After Turkey's Central Bank increased the interest rates from 17 percent to 19 yesterday, Turkey succeeded (!) in being among the top 10 in the world interest rate ranking, even surpassing the countries that lagged behind in interest rates.
While Venezuela, where one wafer and one tank of gasoline is purchased, ranked first, while Turkey ranked 7th in the list of countries such as Zimbabwe, Argentina, Yemen, Liberia and Suriname. Congo, Iran and Haiti followed Turkey. Even in backward countries such as Angola, Guinea, Mozambique and Sudan, interest rates are lower than Turkey.
PROFITEERS HAPPY AGAIN!
The Central Bank even exceeded the expectation of a 1 point increase in the market and increased the policy rate by 2 points to 19 percent at a time.
In the Central Bank statement, "Considering the upside risks, it was decided to make an additional front-loaded and strong monetary tightening," ıt was said.
In the face of the increase in interest, the dollar fell by 15 cents at first, then turned its direction up again. Smiling face was once again the profiteer!
"FRONT-LOADING AND POWERFUL MONETARY TIGHTENING"
In the statement made by the Central Bank, as a reason for the interest rate increase, rising global inflation expectations cause uncertainties regarding the monetary policies of developed countries and volatility in global financial markets. Considering the upside risks, it was decided to make an additional front-loaded and strong monetary tightening.
1 Venezuela 45.34
2 Zimbabwe 40
3 Argentina 38
4 Yemen 27
5 Liberia 25
6 Suriname 25
7 Turkey 19
8 Congo 18.5
9 Iran 18
10 Haiti 17
11 Angola 15.5
12 Sudan 15.5
13 South Sudan 15
14 Ghana 14.5
15 Sierra Leone 14
16 Uzbekistan 14
17 Mozambique 13.25
18 Malawi 12
19 Guinea 11.5
20 Nigeria 11.5
INTEREST INCREASED BY 8.25 POINTS IN 5 MONTHS
Naci Ağbal, who was appointed as the head of the Central Bank on November 7, increased the interest rate by 4.75 points to 15 percent at the PPK meeting in November.
The interest rate was increased by 2 points to 17 percent at the December meeting. The Central Bank, which passed the months of January and February, increased the interest rate to 19 percent by increasing 2 points beyond expectations in March. Thus, the increase in interest rate reached 8.25 points in the last 5 months since the arrival of the new President Naci Ağbal.