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Türkiye s bigger-than-expected interest rate hike positive step to tame inflation--China Economic Net
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News Analysis: Türkiye s bigger-than-expected interest rate hike positive step to tame inflation-Xinhua
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Turkiye begins rolling back costly FX-protected deposits
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Türkiye’s central bank began rolling back on Sunday a growing and costly scheme that protects lira deposits from FX depreciation, marking another move toward more orthodox policies following a shift toward interest rate hikes. The central bank said in the early hours on Sunday that it lifted targets applied to banks for certain levels of conversions of foreign-exchange deposits to the lira-protection scheme, known as KKM.
Turkey's central bank initiated a reversal of a burgeoning and expensive program aimed at safeguarding lira deposits from foreign exchange depreciation. This step signifies further progress toward adopting more conventional policies and implementing interest rate hikes.