What did the Central Bank do? – Remzi OZDEMIR

Saturday, September 24, 2022

the central bank The previous day, it announced the indicative interest rate by 1 percentage point to 12 percent.

In September last year, all sane economists almost begged, “don’t do it, you will blow up inflation” although he warned the central bank He lowered the interest rate from 19 to 12.

What did the world do while the Central Bank was doing this?

The US Federal Reserve, embarrassed to look at the public because inflation was only 8 percent, increased it by 75 basis points.

Britain made the highest rate hike in 14 years.

Switzerland, which has the highest level of welfare, stopped applying negative interest rates.

Many countries, especially Saudi Arabia, increased the indicative interest rate.

No one looked at Nas or anything else!

Everyone attacked the economics books to beat the inflation that plagued them.

They applied the rules of economics.

In other words, they pulled the interest weapon to fight inflation.

Let’s come to Turkey:

In September 2021, inflation is 19 percent and the interest rate is 19 percent.

Şahap Kavcioglu and his team Monetary Policy Board members raised their hands for the rate cut.

That day, the two sides of 80 million in this country did not come together.

There will be those who will say that Turkey’s population is not 80 million.

Yes, the rest is the cream layer of those 4 million countries. Those who earn from AKP’s interest policy and live a luxurious life. That’s why I didn’t write that 4 million.

They are the ones who invest their money in currency protection and live from the Treasury… They are the ones who buy the government tenders and live off the nation’s taxes.

As a result, Turkey continues to roll Turkey into the pit of poverty with the AKP’s pointless and contrary to the world’s interest rate policy.

So why is AKP doing this?

I do not understand why AKP did this. Politics is not my thing. But what I can ask is a professor at the beginning. the central bank why is he doing this?

How come those 5 members of the Monetary Policy Committee raise their hands for a behavior contrary to the economics book they read?

While I was depressed that I could not find an explanation for this, the explanation that relieved me was the Chairman of the Good Party. Meral AksenerIt came from

Akşener: This interest rate decision; It is no longer the subject of discussion of economics, but of psychology!

Now it’s time for economists from Turkey to shut up and valuable psychiatrists to speak up.