![Turkish Central Bank announces it will stop cutting interest rates - Al-Monitor: Independent, trusted coverage of the Middle East Turkish Central Bank announces it will stop cutting interest rates - Al-Monitor: Independent, trusted coverage of the Middle East](https://www.al-monitor.com/sites/default/files/styles/social_media_share/public/2022-01/GettyImages-1237351721.jpg?h=1d34674f&itok=J87BJ8SG)
Turkish Central Bank announces it will stop cutting interest rates - Al-Monitor: Independent, trusted coverage of the Middle East
Financial Times - Turkish president Recep Tayyip Erdogan's theory that lower interest rates will generate a 'new economic model' for his country has collapsed its currency and sent prices soaring. Here's why:
![Turkey keeps interest rates unchanged despite surging inflation | Recep Tayyip Erdogan News | Al Jazeera Turkey keeps interest rates unchanged despite surging inflation | Recep Tayyip Erdogan News | Al Jazeera](https://www.aljazeera.com/wp-content/uploads/2022/02/384130177.jpg?w=770&resize=770%2C492)
Turkey keeps interest rates unchanged despite surging inflation | Recep Tayyip Erdogan News | Al Jazeera
![Turkey keeps interest rates unchanged despite surging inflation | Recep Tayyip Erdogan News | Al Jazeera Turkey keeps interest rates unchanged despite surging inflation | Recep Tayyip Erdogan News | Al Jazeera](https://www.aljazeera.com/wp-content/uploads/2022/02/384063936.jpg?w=770&resize=770%2C433)