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
Hafize Gaye Erkan is Turkey's most powerful banker — and can't find affordable housing in Istanbul.
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…
Hafize Gaye Erkan, 44, said she couldn't find an apartment because of inflation. Opening a very heated debate in the country
Inflation Compels Turkiye’s Central Bank Chief To Live With His Parents.
(CTN News) – The exorbitant inflation rates in Turkey have forced the newly appointed head of the country’s central bank, Hafize Gaye Erkan, to abandon her plans to purchase a property in Istanbul. Despite her extensive experience in finance, including working at prestigious institutions like Goldman Sachs and First Republic Bank, Erkan has been priced […]
“Everything is very expensive. We moved to my mother's house,” explained Hafize Gaye Erkan, who has a long career in investment banking in the United States.
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]
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