Turkey's central bank on Thursday hiked its main interest rate by 500 basis points to 40% in a move that was larger than expected by economists.
  • thelastknowngod@lemm.eeEnglish
    4·
    7 months ago

    It’s fucking stupid to do it all at once but I think this should have happened ~5 years ago. Raising interest rates are how you fight inflation… We wouldn’t be in a situation where it costs 500 TL for one sucuk if they started doing this well before covid.