pull down to refresh

Turkey’s central bank raises interest rate to 46%www.ft.com/content/26a65943-8e6f-49ee-a596-fbe506ca9e0b
485 sats \ 2 comments \ @Coinsreporter 17 Apr econ
The lira rose against the dollar after the bank announced its decision, which investors said was designed to reassure investors after the recent sell-off.
Turkey is 18 months into an economic stabilisation programme that has sought to squash runaway inflation caused by the ultra-low interest rate policy previously favoured by Erdoğan.
Turkish inflation last month fell more than expected to 38 per cent. The bank is targeting 24 per cent by the end of the year.
Turkey is actually trying to infuse life in the already dead currency.
write
preview
related posts
20 sats \ 1 reply \ @k00b 17 Apr
When I first moved to Austin, I went a general tech meetup and got to talking with a recent immigrant about bitcoin. He was interested because the country he comes from (a smaller east european country) had such a bad combination of inflation, interest rates, and capital controls that entrepreneurship was even less common than it is in the US. That's my memory of the interaction at least.
Turkey is a beautiful country I hear. My dad wants to retire there, close to his family in Iran. Hopefully they get their shit together.
reply
33 sats \ 0 replies \ @Coinsreporter OP 17 Apr
Turkey is a beautiful country
Undoubtedly it is one of the most beautiful countries with a diverse climate and culture. It's forever been a centre for trade between Asia and Europe but now the politics has destroyed that tradition.
Iran is beautiful too, especially to the northern side where it has a mountain range and border with Pakistan. However now that's also the place where the demands for a new nation "Balochistan" are are centralised.
reply