As Turkey’s unemployment rate hovers below 80 percent, the central bank is unexpectedly cutting interest rates. The measure has the signature of President Erdogan, for whom price stability is not a priority. He has other important things.
You can buy a limited amount of goods in the markets of Istanbul with Turkish lira.
“Just when you think the Central Bank of Turkey can’t get any crazier, it enters a new kind of madness.” What Timothy Ash, an expert at Bluebay Asset Management from Turkey, instead undiplomatically to the point, now shows a great deal on the financial market. For too long, the financial authorities have been acting against all economic logic and are making Turkey’s problems worse.