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A cut-rate theory: Turkey’s currency spiral

The Intelligence from The Economist

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Turkey's Insistence on Lower Interest Rates Goes Wrong

Mister erdon's insistence on lower rates has been going wrong for quite some time. Investors and turks began selling the lira, which at some point on t Tuesday was down by 15 % against a dollar. The response was brutal. And we've spoken before about mister e s unusual economic ideas.

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