whyrat , 15 days ago

For those not keeping up: this is the fallout from Erdogan ignoring economics and keeping interest rates low for years; only in the past year or so having conceding to reality and finally letting rates rise. They’ll likely continue suffering fallout from his prior stance on interest rates for the remainder of the decade.

From last summer:

www.cnn.com/2023/06/22/economy/…/index.html

and

cnbc.com/…/turkeys-erdogan-agrees-to-monetary-pol…