Turkey expected to double rates to 17% as new finance team fights to fix economy

Turkey’s new central bank governor is expected to double interest rates next week, as the country’s fresh finance team attempts to stabilise the battered economy.

Business executives and analysts expect Turkey’s main interest rate to be hoisted to 17 per cent from 8.5 per cent when the monetary policy committee meets next week, with Hafize Gaye Erkan at the helm for the first time, according to a central bank survey published on Friday….