Erdogan Gets Another Giant Rate Cut As Turkey Virtually Wipes Out Real Rate Buffer

Erdogan Gets Another Giant Rate Cut As Turkey Virtually Wipes Out Real Rate Buffer

"I'm real. I'm a real dictator!", Donald Trump will exclaim, Pinocchio style, if ever he manages to emulate Turkish President Recep Tayyip Erdogan's iron grip on domestic monetary policy. Turkey slashed rates by another 200bps on Thursday, 50bp more than consensus was expecting, bringing the total amount of easing under Governor Murat Uysal to 1,200bps. Uysal delivered the largest cut in history shortly after being installed in July, after Murat Cetinkaya was unceremoniously ousted for ref
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