A debacle at Turkey’s central bank
Firing yet another central-bank governor was a serious mistake
A WEEK AGO Turkey seemed poised to become this year’s emerging-market success story. Foreign investors were pouring back, lured by high interest rates. The central bank sounded serious about taming inflation. The lira was outperforming most of its peers. The economy could look forward to a year of strong growth.
This article appeared in the Europe section of the print edition under the headline “Erdogan’s own goal”
From the March 27th 2021 edition
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