Turkey Interest Rate Hike

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Turkey Interest Rate Hike

Tayyip Erdogan

BBC: Turkey raises interest rates to 24% in new bid to boost lira

Article published: Sep 13, 2018

IB Economics syllabus: Macroeconomics, International economics (monetary policy, exchange rates)

While President Erdogan described himself as an “enemy of interest rates”, finally the Central Bank of Turkey has made the move to significantly increase the interst rates in order to stabilize the lira and set the economy on the road for recovery. As a result, the Turkish currency has appreciated substantially.

Source of image: Getty images

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By | 2018-10-24T04:39:46+00:00 September 14th, 2018|International Economics, Macro|Comments Off on Turkey Interest Rate Hike

About the Author:

My name is Daniel Szekely and I work as an IB Economics tutor, examiner and teacher. Having earned an MA degree in Economics at the University of Aberdeen, I started my career as a financial analyst at Morgan Stanley, one of the largest investment banks of the world. Yet, despite the promising career prospects of the banking industry, I decided to make a larger social impact by becoming a teacher. Currently, I teach IB Economics at SEK Budapest International School and have been an examiner for over 8 years. I started EconDaddy as a simple blog to share great articles with my students and others taking IB Economics around the world to use for their commentaries. Being a practicing IB Economics tutor, I have first hand insight into the most common mistakes of students, so the EconDaddy blog now also provides exam and commentary writing tips.

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