Turkey’s central bank has rolled out new measures to curb credit-card spending and limit loans to some industries as it leans on backdoor tightening to get a grip on inflation without crashing the economy.
Days after a second interest-rate hike that fell short of expectations, policymakers announced rule changes that will make it more costly for consumers to use credit cards for cash withdrawals. The central bank is also imposing a stricter growth limit on car loans and some commercial credit, according to its announcement on Tuesday.
Read More : Turkey Implements New Lending Rules to Curb Credit Boom