Important assessment from Bilge Yılmaz ahead of Central Bank's interest rate decision

Two different topics are being discussed ahead of the policy rate decision to be announced by the Central Bank's Monetary Policy Committee.

While some predict that the CBRT will raise interest rates before the elections, there is also talk that it might 'pass' on March and implement this increase in April.

With hours left until the interest rate decision, İYİ Party's Head of Economic Policies, Prof. Dr. Bilge Yılmaz, commented on the current situation.

Here is that post by Bilge Yılmaz:

"The Central Bank will make a decision between bad and worse tomorrow.

Will it raise interest rates tomorrow or in April?

Although this decision will have short-term consequences, unfortunately, it does not have much significance in the long term.

The rebellion of retirees, the hopelessness of the youth, the desperation of wage earners... None of these have a solution in the interest rate decision to be taken, nor in the policies to be implemented after April 1st. Even if the Central Bank raises the policy rate to 50 percent tomorrow, it will soon be seen that this will not be enough.

A program that does not contain reason, fairness, and a correct strategy will be imposed on all of us. The policies presented as an economic stability package contain nothing but “sacrifice” for our citizens, and they will not. Because with the current ruling mentality, stability is a distant goal for our economy, and development is a dream.

The first macroeconomic imbalance we need to solve in the economy is high inflation. Neither the year-end targets for this year nor for 2025 will be met; in fact, they won't even come close. Because there is no correct plan, there is no staff to implement it, and perhaps there is no intention. There is no concrete evidence that the People's Alliance cares about the single-digit inflation target; there are only words."

News Source: 12punto