Tue, 21-Oct-2025

The costs of Erdogan’s fight for Turkey’s ‘economic independence’

Erdogan’s

ANKARA: Turkey’s consumer prices have soared by the highest rate since 2002, further undermining President Recep Tayyip Erdogan’s unorthodox battle for his developing country’s “economic independence”. Analysts attribute the jump of the official reading to 36.1 per cent last month to the surging cost of imports, which range from energy to many of the raw … Read more

Lira plunges as Turkey cuts interest rate again

Turkish lira

ISTANBUL: The Turkish lira on Thursday hit fresh lows after the central bank fired the latest salvo in President Recep Tayyip Erdogan’s “economic war of independence” by cutting interest rates for the fourth successive month. The reduction of the main rate to 14 per cent from 15 per cent comes in face of an annual inflation … Read more