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.
32 Articles
32 Articles
The head of the Turkish Central Bank moved to her parents due to high housing prices
Председатель турецкого Центробанка Хафизе Гайе Эркан в 44 года переехала к родителям. Причина — в высокой инфляции и росте цен на недвижимость в стране, поделилась она в интервью газете Hürriyet. Стамбул оказался слишком дорогим городом для главы регулятора — позволить себе там жилье Эркан не может. «Как Стамбул может быть дороже Манхэттена?» — задалась вопросом она в разговоре с журналистом издания. Эркан есть с чем сравнить: до своего назначен…
Turkey: Central bank boss moves back in with parents due to rent inflation
The rental market in Turkey - especially in the metropolis of Istanbul - is so overheated that even the most powerful female banker in the country cannot find a home. She had to move back in with her parents, says central bank manager Erkan. [more]
Inflation in Turkey: the head of the Central Bank returns to live with her parents
Hafize Gaye Erkan, a 44-year-old banker who worked for Goldman Sachs in particular, explained on Saturday, December 16, that she had failed to find housing in Istanbul because of the price spikes that have plagued Turkey for many months.
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