Economy in Turkey: Scary Dollar Forecast… Dollar will try “New Records” every day

Former Central Bank Chief Economist Hakan Kara and Economist Mustafa Sönmez shared opinions about most recent interest rate increase decision by Central Bank and the mobility in the dollar and the euro.

Former Central Bank Chief Economist Hakan Kara commented on the impact of raising interest rates from 8.5 percent to 15 percent on exchange rates. He said “It is not for everyone to be able to make the rate jump like this on the day when the highest interest rate increase in history is made”

On the other hand, MUSTAFA SÖNMEZ, another important economist, shared the following statements: “Those who’ve made a fakey interest rate decision in fear of Erdogan, have probably thought about the reaction that the currency would give, followed by a new wave of inflation. The exchange will try new records every day”