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America’s segregated banking
FT News Briefing
Turkey's Central Bank Subsidizes Savings
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turks have been seeking to protect their savings by saving in dollars and gold. Adwin has now launched a states subsidize scheme that will guarantee the value of their savings even if the lira weakens against the dollar. The state will subsidize the gap between inflation rate and the exchange rate. Economists call this move by erdaan a back door rate hike.
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