Priced out

Turkish Central Bank Governor Hafize Gaye Erkan attends the Planning and Budget Commission of the Turkish Grand National Assembly (GNAT) in Ankara. 

The head of Turkey's central bank Erkan said she has been priced out of Istanbul´s property market by rampant inflation, leaving no choice for the central bank chief but to move back in with her parents. 

Year-on-year inflation stood at 61 percent in November as President Recep Tayyip Erdogan has allowed the lira currency to weaken while promising that a new team of economists with Wall Street experience would tackle years of economic crisis. To quell growing anger, officials also capped rent increases at 25 percent -- though experts say that has only amplified the housing tensions, as owners try to push out occupants, sometimes fraudulently, in order to set new and higher rents. 

The central bank last month pushed up benchmark lending rates to 40 percent in a bid to get inflation under control.