Are you afflicted? Citizens of Turkey are positively aflame:
Turkey’s Central Bank, in a unexpected move, hiked interest rates Thursday by another 500 basis points, from 45% to 50%.
The monetary policy committee cited a “higher than expected” surge in the country’s year-on-year inflation last month, which hit almost 70%. The embattled Turkish lira strengthened immediately after the surprise announcement, trading more than 1% up on the day at 14:30 p.m. local time. [AL-Monitor]
A bit hard to borrow money. And this in an Islamic nation? I thought charging interest was against Islamic law?
