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Commerce Chamber Warns of Growth Risks From High Rates

TURKEY

Istanbul Chamber of commerce:

  • Economy's overall stability should be the priority.
  • We can't risk a picture where inflation has fallen but the economy is in trouble
  • Recent rate increases by central bank have resulted in a "grave financing cost" for the real sector
  • Commercial loan rates at 21%-23% again after 19 months
  • More signs of pressure from business to cut rates which is a key driver for a more vocal Erdogan on CBRT activities
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com

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