Turkey’s Central bank keeps interest rate at 19 percent

The Central Bank of Turkey has convened to make a decision about interest rates to be applied in the country for the next period.

As expected, the bank held its policy interest rate steady at 19 percent. The inflation rate however is observed to surpass current interest rate which as many experts say could be a problem in the coming period.

It is known to all that President Erdogan is against the high interest rate applied currently. However, his theory (as personally expressed many times) has not proved to be working so far.

Whether said decision of the bank will have an impact on current currency rates, will be clear after announcement of said decision.