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‘This Is Much Worse Than Expected’: Analysts (Still) Struggling To Come To Terms With The Reality Of Erdogan
Thursday was another day when EM watchers expressed incredulity at how obviously beholden Turkish monetary policy is to Erdogan-o-mics.
Regular readers know my position on this - I'm incredulous that everyone else is incredulous. In fact, it's to the point where I feel like investors and fund managers actually don't want to get it. I can't think of another possible explanation for why anyone acts surprised when CBT does something that undermines the lira, again laying bare the fact that there w
