CryptoMediaClub
Tuesday, June 24, 2025
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
CryptoMediaClub
No Result
View All Result
Home Bitcoin

Turkey Raises Interest Rate by Whopping 15% To Combat Inflation

22.06.2023
A A
0
135
VIEWS
ShareShare

Turkey Raises Interest Rate by Whopping 15% To Combat Inflation

  • The first hike since March 2021, represents a leap from the current 8.5%.
  • Central banks throughout the globe have hiked rates to offset surges in consumer prices.

Turkey’s central bank delivered a significant interest rate rise on Thursday, signaling a turn towards more traditional economic strategies to tackle sky-high inflation. The bank’s benchmark interest rate was increased by 6.5 basis points, to 15%. The first hike since March 2021, represents a leap from the current 8.5% but falls short of market forecasts.

It happened during the central bank’s first interest rate-setting meeting after Erdogan nominated two highly regarded figures to head the bank and the finance ministry. A departure from Erdogan’s unconventional view that lowering interest rates combat inflation may be seen in the rate rise.

Interest Rate Hikes Worldwide

Central banks throughout the globe have swiftly hiked rates to offset surges in consumer prices. Connected to the recovery from the epidemic and Russia’s invasion of Ukraine. Despite the fact that traditional economic theory recommends quite the opposite. The Bank of England and the Swiss National Bank were just two of the European central banks that raised their benchmark interest rates on Thursday.

Although he has said that he would “accept” his new finance minister’s plans, Erdogan, an “enemy” of high borrowing prices, has reiterated that his views have not altered. This sparked concerns about the autonomy of Turkey’s central bank.

In the wake of notable asset management companies, including BlackRock, submitting applications for spot Bitcoin exchange-traded funds (ETFs). Bitcoin (BTC), the king of cryptocurrencies, had a large spike for the second day in a row. Over the previous day, the cryptocurrency with the highest market capitalization has increased by about 5%.

Share10Tweet7ShareSharePin2

Related Posts

Bitcoin Inflow: Sudden $484M Movement Sparks Crucial Market Questions
Bitcoin

Bitcoin Inflow: Sudden $484M Movement Sparks Crucial Market Questions

19.06.2025
0

BitcoinWorldBitcoin Inflow: Sudden $484M Movement Sparks Crucial Market Questions A significant event recently captured the attention of the cryptocurrency community...

Read moreDetails
ANAP Bitcoin Purchase: Japanese Fashion Giant Accelerates Bold Crypto Strategy

ANAP Bitcoin Purchase: Japanese Fashion Giant Accelerates Bold Crypto Strategy

18.06.2025
Bitcoin Price Prediction: Massive Rally Potential After Correction

Bitcoin Price Prediction: Massive Rally Potential After Correction

18.06.2025
Bitcoin: Genius Group Strategically Boosts Holdings to 100 BTC

Bitcoin: Genius Group Strategically Boosts Holdings to 100 BTC

17.06.2025
Bitcoin Whales and Retail Investors: Powerful Signal as Holding Reaches New Lows

Bitcoin Whales and Retail Investors: Powerful Signal as Holding Reaches New Lows

16.06.2025
Load More
Next Post
South Korean Crypto Firm Haru Invest Reportedly Lays Off Staff

South Korean Crypto Firm Haru Invest Reportedly Lays Off Staff

0 0 votes
Рейтинг статьи
Subscribe
Notify of
guest
guest
0 комментариев
Oldest
Newest Most Voted
Inline Feedbacks
View all comments

Recommended

Binance.US Grapples with Challenges Amid Plummeting Trading Volume

Binance.US Grapples with Challenges Amid Plummeting Trading Volume

2 years ago
Best Crypto to Buy Now November 1 – Cardano, Mantra, Raydium

Best Crypto to Buy Now November 1 – Cardano, Mantra, Raydium

8 months ago
Does The Approval Of The BTC Spot ETFs Make Bitcoin Centralized?

Does The Approval Of The BTC Spot ETFs Make Bitcoin Centralized?

1 year ago
XRP Investors Pivot to Fresh ICO in Search of 1000% ROI Tokens

XRP Investors Pivot to Fresh ICO in Search of 1000% ROI Tokens

1 year ago

Categories

  • All news
  • Altcoins
  • Analysis
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
No Result
View All Result

Highlights

Analysts: South Korea’s Stablecoin Pivot Will Hurt Card Companies, Boost Big Tech

Bitcoin whipsaws back to $104k after losing six-figures as Iran’s failed attack signals end of tensions

Washington Eyes Crypto Rules: Senate Subcommittee Hearing on Digital Assets Scheduled For Tuesday

$100 Million BNB Bet: Nasdaq Company Mirrors MicroStrategy’s Playbook in Bold Treasury Move

Solaxy (SOLX) Price Set to Heat Up as Solana Layer 2 Lists on DEXs, Major Exchanges to Follow 

Texas to buy Bitcoin for state reserves long before Trump’s Bitcoin reserve delivers

Trending

Anthony Pompliano Strikes $1B Merger to Launch Bitcoin-Native ProCap, Raises $750M to Go Public
All news

Anthony Pompliano Strikes $1B Merger to Launch Bitcoin-Native ProCap, Raises $750M to Go Public

24.06.2025
0

American investor and entrepreneur Anthony Pompliano announced a $1 billion business merger to create a Bitcoin-native firm,...

Fintech Firm Fiserv Taps PayPal and Circle to Power Its Stablecoin Initiative

Fintech Firm Fiserv Taps PayPal and Circle to Power Its Stablecoin Initiative

24.06.2025
Bitcoin Reclaims $106K After Trump’s Israel-Iran Ceasefire — Is $110K Next?

Bitcoin Reclaims $106K After Trump’s Israel-Iran Ceasefire — Is $110K Next?

24.06.2025
Analysts: South Korea’s Stablecoin Pivot Will Hurt Card Companies, Boost Big Tech

Analysts: South Korea’s Stablecoin Pivot Will Hurt Card Companies, Boost Big Tech

24.06.2025
Bitcoin whipsaws back to $104k after losing six-figures as Iran’s failed attack signals end of tensions

Bitcoin whipsaws back to $104k after losing six-figures as Iran’s failed attack signals end of tensions

24.06.2025
  • All news
  • Altcoins
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
  • Analysis
Editor: cryptomediaclub.com@gmail.com
Advertising: digestmediaholding@gmail.com

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

wpDiscuz