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With Stocks In Free Fall, Turkey’s Monetary Policy Descends Into Farce
... there is no guarantee Turkey will do what’s necessary with monetary policy. It’s far more likely they’ll resort to half-measures.
I long ago ran out of sympathy for Turkey watchers when it comes to hoping against hope for a rational monetary policy response aimed at stemming declines in the lira. Now I'm out of patience too.
The excerpt above is from a Tuesday post documenting the latest developments around President Erdogan's successful bid to nullify the Istanbul ele
