Two outta three

The biggest doubt is whether Mr Erdogan will allow orthodox economic policies and a rise in interest rates – something he has described as the “mother of all evil” – to help fix deeprooted problems. Turkey’s economy has struggled in recent years to cope with rampant inflation, a overinflated credit boom and the currency’s 65pc collapse versus the dollar since 2015.

Inflation, interest rates, FX.

2 thoughts on “Two outta three”

  1. Ha ha ha. I lived in a South Africa with twenty per cent plus prime lending rates and double digit inflation. There is a correlation but it appears not to be causal.

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