by winston » Fri Jun 23, 2023 8:41 am
Turkey’s welcome hike
Turkey’s central bank — under its new governor Hafize Gaye Erkan — doubled the country’s interest rate from 8.5% to 15%.
That goes some way in tackling Turkey’s soaring inflation which, aided by President Recep Tayyip Erdogan’s insistence on keeping rates low, hit 39.6% in May.
But some analysts criticized the hike for being too modest — most were expecting rates to hit 20%.
Source: CNBC
It's all about "how much you made when you were right" & "how little you lost when you were wrong"