After 27 months of stagnant rates, the Monetary Policy Committee of the Turkish Central Bank (CBRT) finally announced on June 22 that the policy rate would be increased to 15 percent, answering the rising expectations and anxious waiting. Is the “Nass” era over, one asks as the word was used by Turkish President Recep Tayyip
Before the second round of presidential elections on May 28, President Tayyip Erdoğan told CNN International that if elected, he would continue to cut interest rates following his unorthodox belief that “high interest rates cause high inflation” and that “he had already started to see positive results.” We all wish for a better tomorrow and
As Türkiye is set to hold its critical election on May 14, the opposition “Nation Alliance” presidential candidate and main opposition CHP leader Kemal Kılıçdaroğlu held one of the most important rallies of his election campaign on May 6 in İstanbul, Maltepe along with the other five opposition leaders and the Ankara and İstanbul mayors
The earthquake caused great suffering. Massive loss of life, numerous injuries, destroyed homes, broken families… It is hard to comprehend that pain unless you have experienced. There was also significant economic destruction due to the earthquake. Many homes and businesses collapsed, and many more became unusable. Schools, hospitals, and other public buildings should be
Türkiye’s opposition alliance that is called Nation Alliance (The Table of Six) announced the Common Policies’ Consensus Text on Monday, January 30, 2023. The 244-page text composed on 9 different sections detailing the opposition alliance’s future program if they would win the upcoming election. This article will focus on the Economy, Finance, and Employment section.
How will Turkey’s economy perform in 2023? It is a relatively complex question since we have been in an inexplicable period regarding economic conditions, and a critical election is to approach. Hence, it would be more appropriate to try to answer this question by dividing 2023 into two periods: before and after the election. First,
Türkiye’s main opposition Republican People’s Party (CHP) leader Kemal Kılıçdaroğlu promised to bring a technocratic supra-political committee to advise the country’s policy-making efforts, as the party introduced its economy programme in a grand event dubbed “the call for the second century.” “Türkiye needs a radical change. It needs a system that works for everyone. Such
Turkish President Tayyip Erdoğan began addressing Kemal Kılıçdaroğlu, the leader of the main opposition Republican People’s Party (CHP), as “Mr. Kemal” (Bay Kemal). By using this condescending tone, he was aiming to evoke an alienating effect on his constituency. The term “Mr.” or “Bay” was also a reference to honorifics introduced during the founding years
The Central Bank of the Turkish Republic’s (CBRT) “fight against inflation cannot be considered very successful,” the CBRT governor Şahap Kavcıoğlu said on October 27, as the bank raised its inflation forecast by 4,8 percentage points. “We cannot consider (fight against inflation) very successful,” Kavcıoğlu said upon a question from a reporter on October 27,