Markets Shocked – Shocked, I Tell You! – To Discover That When Erdogan Says Low Rates, Erdogan Means Low Rates
The CBT is on deck as well, and that should be all kinds of amusing as it will be a good litmus test of how much central bank independence still exists in Turkey now that Erdogan has installed his son-in-law Berat Albayrakc as economic czar following the election.
That passage is from our week ahead preview, published on Sunday evening, and the implication there was that Turkey would likely disappoint markets when it comes to hiking rates now that Recep Tayyip Erdogan has consolidated virtua
Trump must be just a tad jealous. On the serious side, looking ahead a year or two (or three or whatever) Turkey turning into an economically failed state would be very dangerous for its neighbours in the Middle East and Europe. Geography and military capabilities would make it Venezuela on steroids. Not inevitable by any means, but worth thinking about. Especially if you’re Greek. Or Syrian.