Kibkom North Cyprus Forum

The Turkish lira rises significantly after the Turkish central bank raised its key interest rate by a hefty 750 basis points.

Yes the markets reacted strongly...as one commented that maybe this is the light at the end of the tunnel.....just keep Erdogen out of the way and let the experts deal with the economy. A report today said by 2030 it expects the Turkish economy to be the 5th largest in the world

I'd like to see that report ...it's hard to believe to be honest.

USA China Japan India then turkey in 5 th...

It would have to overtake Germany ...

It's currently around 19 th....it would need to quadruple its gdp in 6 years ...

It's basically impossible.. I think you have misunderstood or something ...

I found the report ..it was from 5 years ago and they projected growth from 2017...and things have not progressed for turkey since then ...

Its still ranked 19 th ...

This interest hike should have been activated 18 months ago,erdogan really ought to know lowering rates does not stop inflation

techtrader wrote: ↑

Thu 24 Aug 2023 2:13 pm

The Turkish lira rises significantly after the Turkish central bank raised its key interest rate by a hefty 750 basis points.

So what was the interest hike in %, and what is the base rate now?

7.5% to 25%

I thought it was 17 to 25 percent?

Mollie the cat wrote: ↑

Fri 25 Aug 2023 6:12 pm

I thought it was 17 to 25 percent?

Yes increase of 7.5% from 17.5% to 25%

It was not from 5 years ago and it had China in the top spot and yes Turkey was well ahead of Germany