The IMF mission recommended that the Turkish authorities raise interest rates ahead of schedule in order to strengthen the independence of the Central Bank.
And the Bloomberg news agency said that such moves “will help bring inflation down in a more sustainable way and enable the monetary reserve to be reconstructed over time.”
It says that if these policies are implemented during a period of declining inflation, macroprudential and regulatory measures should be phased out, including protected foreign currency deposits, so that the state plays a smaller role in financial markets and in the distribution of loans.
It is noteworthy that the inflation rate in Turkey this year exceeded 85%.
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