Erdoganomics abandoned after interest hikes

Turkey’s Central Bank cemented the country’s policy shift with a super-sized rate hike, raising its key interest rate by a lofty 500 basis points to 30%. The latest hike marks a second

Tax on interest income slashed

The government decided to slash taxation on interest income from 30% to 17%, Finance Minister Makis Keravnos said, hoping banks will follow suit in boosting revenue for depositors. During the 2013 financial

Heat on banks to lower interest hikes

Political parties are increasing the heat on banks to absorb part of the increased cost of borrowing from interest rate hikes burdening the economy and households. As the European Central Bank prepares