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Inflation forces Turkey's central bank chief to move in with parents

  • The cost of living in Istanbul has become prohibitively expensive, forcing many people to move in with family members.
  • Inflation in Turkey reached 61% in November, prompting the central bank to raise benchmark lending rates to 40%.
  • Rent increases have been capped at 25%, but this has exacerbated housing tensions as landlords try to evict tenants in order to increase rents.
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  • 33% of the sources lean Left, 33% of the sources are Center, 33% of the sources lean Right
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Barron's broke the news in New York, United States on Saturday, December 16, 2023.
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