Hakan Kara on the Central Bank's decision: 'It was not a good idea'
The Central Bank of the Republic of Turkey (TCMB) decided to keep interest rates unchanged following its Monetary Policy Committee (PPK) meeting. Former TCMB Chief Economist Hakan Kara shared his assessment of the Central Bank's decision on his X account.
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The Central Bank of the Republic of Turkey (TCMB) decided to keep the policy rate unchanged at 50 percent following its Monetary Policy Committee (PPK) meeting.
Former TCMB Chief Economist Hakan Kara commented on the Central Bank's decision, stating, "It was the right move to keep it open-ended."
Kara's X post is as follows:
"It was not a good idea to explicitly state in January that interest rate hikes were completed. It was the right move for the Central Bank to change this communication and keep it open-ended."
It was not a good idea to explicitly state in January that interest rate hikes were completed. It was the right move for the Central Bank to change this communication and keep it open-ended. https://t.co/wnK2Kai0rM
— Hakan Kara (@ali_hakan_kara) April 25, 2024