Reuters Breakingviews: Turkey's "whatever it takes" moment
Wednesday, January 29, 2014 - 04:04
Jan. 29 - The Turkish central bank has gone for shock and awe, opting for a massive increase of interest rates that will soothe concerns about the institution's independence.
▲ Hide Transcript
▶ View Transcript
On today's -- Indies bowling -- surprise decision to hike rates to 12%. Does mean the techies -- after ten years at the Helm just contain -- a good time to quit saints Brees. George K -- his breaking these associates and it's a joins me now to talk about. This topic -- also with techie of course -- it seems that some like kept I point breaking visas -- making news is not so much what the Central Bank has done about what's. The economy has an intense challenges going ahead. Yes I mean the what little central mind stunned here is probably the right it is of course an accident and it's kind of blessed 52 -- I mean. The obvious danger here is by raising rates say all right they like it economy the real economy and businesses will. So it's crumble had a talent points that was I think the main point is that the current -- to debate columnists document with the currency is really weak. -- immediately taken of leading decently bad guys statements this kind of decisive action. And laziness businesses and anyway suffering because then someone would take that phone lines which. If the currency to tune in week. Then they will be in dire -- it and this is -- right taxis take. The debate the BBC that is the reason why techies foreign investors -- Worried about that he isn't just because. Who will listen to register for the government Tuesday. And the government needs to establish more credibility hopeful -- -- more credibility. And its feet -- that then that's great success deep if indictment. More to come maybe. So what can the government do to establish more credibility and he NATO he reticent to -- his welcome BC -- rate hikes to come. Well yeah I -- a bat out all the pendulum. What the government does I think it could be as simple as that the the prime minister. Since -- quote mixed messages there's a kind of strange element of paranoia kind of hanging around. That these government. And they really need to kind of focused almost west of the country and -- and that there and kind of internal. Global three point. So not a -- get a big story today of course is saying sprain and you know it's heads stepping down. You know he's really good run he's been for ten years is missing cases in a good time to leave whilst these stories a positive one. Yeah -- -- of the classic kind of success and achieve. Which allow all lip mean a big companies BP -- Have a long running exec Susan there's always -- big question but when they stand back. We Etzioni independent right -- and it was you could says you know you the rights and it was it was as soon as possible. But -- he has been that for a decade. I don't think the critical point -- areas that. Safeties and -- place them in the CAD one of the people retailers which is actually manage and grow its market share. Beacons that kind of waitress and that distances of both in the market so news. It's it's Kobe the right thing it's get a now and I think he conceded all of scene you see in this process -- -- -- -- -- percent which spent and just if adjusting things that they see Kobe -- that's happened you reading of the kind of errands so. It's really tough cause -- that -- -- -- my god he's goat. It's they'll surprise -- vehicle because people -- uncertain about the -- -- but I mean I think. He has is that Fabrice. So -- he's in the right place and plus he's got the group kind of address -- that's okay he's gonna take it and like he's -- -- on the he used to scenes in it we'll see happens that the unit that he seemed and mutually set to succeed justice. Right to keep an eye on this story and see Haniyeh. He game isn't nice to not -- and we have to give them my thanks to George George Hague from breaking -- The launch and assessing financial inside watching US -- TV show it every day at twelve that's east in 1730 GMT I'm managing -- This is noises.
Press CTRL+C (Windows), CMD+C (Mac), or long-press the URL below on your mobile device to copy the code