The Turkish administration’s insistence on reducing the interest rate in violation of the global trend, which is accelerating towards a subsequent interest rate hike, raises many questions, especially in light of Turkey’s suffering from record inflation rates in continuous escalation, which has constituted a great pressure to which the Turkish citizen has not been accustomed throughout the twentieth century. In recent years, despite this, Turkish determination appears strong in tracing a monetary policy contrary to what is accepted by economic theories and is already followed by most of the world’s major central banks.
