Zeki Ceyhan: "Pink dreams!"

Zeki Ceyhan: "Pink dreams!"
Date: 14.8.2020 17:00

Milli Gazete columnist Zeki Ceyhan writes on Turkey's economy. Here is the full article.

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When those who lead the economy say that interest rates will decrease, what does it mean for public banks to raise deposit rates?
 
This of course means that those who drive the economy are chasing "pink dreams".
 
There are dreams of those who lead an economy, and there are realities of the market!
 
This decision taken by the state banks is nothing more than a denial of the statement made by those who drive the economy.
 
We have no doubt about the good intentions of those who drive the economy!
 
They are waiting for a decrease in interest rates in good faith.
 
But it is not enough just to have good intentions to lower interest rates!
 
Also, it is necessary to comply with the rules of the system being implemented.
 
We think that the biggest mistake of those who direct the economy emerges at this point.
 
Since they do not observe the rules of the system they are applying, they are not able to make their words because they create new rules instead of fulfilling the rules of the system.
 
It is not possible for them to be successful in the system they are implementing.
 
Opposing this system and moving to another system is another, staying within the system and resisting against the system is another!
 
It must be admitted that those who direct the economy in the current system are among the borrowers.
 
Borrowers do not set the rules in any system!
 
Rules are set by lenders.
 
On the one hand, you will borrow money, on the other hand, you will get it that interest will decrease.
 
This does not happen, as it does not!
 
In such a case, when you are stubborn, the system will make you do the opposite of the claims you put forward.
 
You say "interest rates will decrease"!
 
But the public banks under your administration raise the deposit rates.
 
So, what does it mean to increase deposit rates?
 
Undoubtedly, it means an increase in the interests of the loans to be granted. Under these conditions, the statement "interest will decrease" does not mean anything more than a decisive statement.

YEREL HABERLER

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