Meanwhile, In Turkey…
"Turkish Lira Buoyed by Conservative Half-Point Cut", reads a Bloomberg headline which accidentally qualifies as one of the better punchlines you'll read this week.
It's not that it isn't accurate. It's just that "conservative" is an extremely relative term when it comes to Turkey and rate cuts.
For the uninitiated, allow me to illustrate. There is nothing "conservative" about the following visual, which shows you the nine cuts Murat Uysal has implemented over his 10 months as CBT governor.