If you wonder what is happening currently to interest rates and exchange rates in Turkey, then look no further than Reg Erdogan's battle against the 'interest rate lobby', and the bullying of the Central Bank Governor to drive down interest rates. All being played against the Turkish political landscape of the two elections this year, the recent local elections and of course the Presidential Election, where charmer Reg is standing on behalf of the AK Party.
Below is a link to a very good article that summarises nicely what is happening politically and economically with Interest Rates/Exchange Rates in Turkey at the moment, plus an indication the consequences of what could happen (well almost certainly will IMHO) if Reg gets his way and continues down this economic road. Well worth a read cos it does impact on us all whether in savings rate or exchange rate, and of course inflation rate impacting on any Turkish capital you have.
http://www.al-monitor.com/pulse/originals/2014/07/cetingulec-turkey-interest-rate-lobby-exporters-exchange.html#Enjoy