CBRT’s Interest Rate Decision on the Foreign Press’s Agenda

The CBRT’s decision to cut interest rates by 100 basis points was also on the agenda of the foreign press. The world’s biggest news sources criticized the rate cut decision very harshly. Here are the explanations of some sources about Turkey.

The Monetary Policy Committee held its meeting yesterday. Central Bank of Turkey Republic (CBRT) announced its interest rate decision, which did not surprise any of us. The result of the meeting, cut interest rates by 100 basis points was in the direction. The decision made caused a sudden jump in the dollar exchange rate. This situation is the number one agenda of social media users in our country throughout the day. had happened.

The decision taken by the Central Bank, of course, was not only on the agenda of social media users. Politicians and economists in our country also talked about this issue throughout the day. On the other hand, foreign Press also focused on this issue. Making headlines and writing news about the extraordinary process Turkey went through world’s largest news sourcesThey made very striking statements for our country.

Financial Times: It’s an obsession

One of Britain’s oldest newspapers Financial TimesWhile evaluating the CBRT’s decision; “This means that President Erdogan’s obsession with low borrowing costs already excessive inflation raising concerns that it will make matters worse. what happened beyond monetary policy control.“. The investment analyst named Paul McNamara, who was quoted by the Financial Times, said, “It’s hard to understand why they did this. The only driving force for a weak Turkish lira view of the policy.‘ he said.


Why Do Dollars and Inflation Rise When Interest Rates Fall?

The Guardian: A decision taken by pressure

The Guardian also made headlines with the 100 basis point interest rate cut by the Central Bank. In the statements made, the said decision It was given under the pressure of President Erdogan. It was stated that this situation would cause even higher inflation. The newspaper puts Turkey further in terms of costs. tough days await stated.

Bloomberg: No trust left

external press

The news in Bloomberg was also written in a very harsh language. Institutions and individuals who set monetary policy with the CBRT’s latest interest rate cut decision you have no trust Stating that, the newspaper wrote that Turkey is going in the opposite direction with other developing countries. Saed Abukarsh, from Ark Capital Management, commented, “Interest rate cut decision a political decision. Any confidence in the credibility of the Central Bank was knocked out of the door.” said.

Wall Street Journal: Erdogan is putting himself in danger

Regarding the last interest rate cut decision of the Central Bank of the Republic of Turkey most striking commentcame from the Wall Street Journal, the giant newspaper of the USA. “Turkey’s currency crisis threatens the economy and Erdogan puts his administration in trouble.In the news with the headline “, “The self-defeating lira A wound that Erdogan inflicted on himself.‘ statements were made.


The First Reactions of Economists to the Interest Rate Decision Which Crashed the Central Bank’s Website and Shot the Dollar Up All of a sudden

The currency crisis is shaking the Turkish economy, President Recep Tayyip Erdogan’s approximate Putting his 20-year rule in jeopardy and it is upsetting living standards in a country that has enjoyed economic growth for years.In the news where the expressions “” were used, the comment of the analyst named Timothy Ash was included. “It’s insane that this move and all the other rate cuts we’ve seen this year there can be no reason. Erdogan follows his own monetary policy.Speaking as “Ash, he came out very harshly to what happened.

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