Erkan will continue tightening despite Erdogan’s objection to high rates, predicting annual inflation to climb until the second quarter of 2024.

The central bank is aiming to protect jobs and economic growth while bringing inflation to single digits.

Finance Minister Mehmet Simsek supports Erdogan as rates rise and GDP slows.

Moody’s may upgrade Turkey’s credit rating if orthodoxy persists.

The Turkish Statistical Institute (TUIK) has issued better price data since Erkan and Simsek took over.