Turkey maintains second place in global interest rate rankings

Economist İnan Mutlu shared updated data showing Turkey's position on the global scale following the Central Bank's latest interest rate decision. Mutlu emphasized that with the data shared, Turkey has held the position of the country with the second-highest policy rate in the world since May 2024. In his assessment on social media, Mutlu criticized the current situation with the words "continuing on with loan shark interest rates," noting that the Central Bank's decision today did not change this ranking.

GLOBAL TABLE AND DATA

According to the shared data, while Venezuela sits at the top of the global interest rate league with 58.6 percent, Turkey has solidified its second-place position with 37 percent. Turkey is followed by Zimbabwe with 35 percent and Argentina with 29 percent. The rest of the list includes countries such as Nigeria (26.5%), Malawi (24%), and Iran (23%).

The 37 percent rate, which the Central Bank has kept steady as part of its "tight monetary policy" stance, shows that the interest rate gap between Turkey and emerging markets and neighboring countries continues to remain wide. While experts state that this picture is shaped in line with the goal of fighting inflation, Turkey maintains its status as one of the economies with the highest rates in the world in terms of investment and borrowing costs.

News Source: 12punto