Former CBRT Chief Economist Hakan Kara answers: 'Will the Central Bank raise interest rates?'

The Central Bank of the Republic of Turkey (CBRT) will announce its interest rate decision tomorrow. Before the announcement, former CBRT Chief Economist Hakan Kara made a statement regarding the matter on his social media account. Kara stated, "It should remove complex regulations."

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Former CBRT Chief Economist Hakan Kara answers: 'Will the Central Bank raise interest rates?'

The Central Bank of the Republic of Turkey (CBRT) will announce its interest rate decision at the Monetary Policy Committee (MPC) meeting tomorrow. Ahead of the Central Bank's decision, former CBRT Chief Economist Hakan Kara shared his views on the interest rate decision via his X account.

In his post, Kara used the following expressions:

"In my opinion, the CBRT should raise rates by 500 basis points tomorrow, remove the complex regulations on banks and companies, and allow the exchange rate to fluctuate more. If this can be done, the deposit and credit structure will become more equitable, and the exchange rate market and the entire system will be relieved."

Bana göre yarın TCMB 500 baz puan artırıp banka ve şirketler üzerindeki karmaşık düzenlemeleri kaldırmalı ve döviz kurunu daha fazla dalgalanmaya bırakmalıdır. Bu yapılabilirse mevduat ve kredi yapısı daha adaletli hale gelecek, döviz kuru piyasası ve bütün sistem rahatlayacaktır
— Hakan Kara (@ali_hakan_kara) April 24, 2024