Turkey Pushes to Bring Household Gold Into Banking — SkimNews
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- Turkish households traditionally stash gold "under the pillow" as a hedge against inflation, a habit the Turkish government says is hurting the economy.
- The Turkish government is actively seeking ways to bring household-held gold into the formal financial system, according to multiple outlets covering the story.
Why it matters: If the government's campaign succeeds, privately-held household gold — kept outside banks specifically as an inflation hedge — could flow into Turkey's financial system, potentially broadening the country's banking base and giving policymakers more monetary instruments.
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