Turkey Interest Rate | Why Is Turkey's Interest Rate So High?

Turkey interest rate rise: When will President Erdogan reverse course in face of raging inflation? By Ryan Hogg Edited by Jekaterina Drozdovica Turkey’s monetary policy continues to ignore the inflationary reality in the country. Analysts are increasingly puzzled as to how Turkey will move next on interest rates. With Turkey President Recep Tayyip Erdoğan tightening his grip on policy even as price rises surpass 83%, can interest rates go lower, or will the pressure of 24-year high inflation be too much to handle? We take a look at the outlook for the Turkey interest rate. What are interest rates and how are they set up in Turkey? Interest rates are the percentage of interest charged on borrowed money, and the amount paid out on deposited cash.  More:Turkey Interest Rate | Why Is Turkey's Interest Rate So High?