Turkey Taking Its Interest Rates Outlier Status to New Extreme

From bnnbloomberg.ca

Turkey likely won’t deviate from its maverick approach of keeping interest rates deeply below zero when adjusted for inflation even as prices surge, breaking with central banks embarking on what may prove to be the most aggressive tightening of monetary policy since the 1980s. A pause by the Turkish central bank since it ended a round of rate cuts last year has put added strain on the lira and touched off a surge in consumer prices that Goldman Sachs Group Inc. estimates will soon reach 80%. But economists are near unanimous that policy makers will keep their benchmark at 14% on Thursday. In a Bloomberg poll of 26 ... (full story)