Turkey's central bank policymakers are expected to announce a significant rate hike later this month to help stabilize the Lira, but how long this policy will last is uncertain. With local elections scheduled for March 2024, Erdogan may prioritize economic growth over stability, potentially reversing current policies and sacking his economic advisors.
Conflict in Ukraine has cut short the “peace dividend” the world was reaping. We count the economic costs of a widespread return to a war footing. President Recep Tayyip Erdogan’s appointment of two economic realists should, at last, overturn Turkey’s upside-down monetary policy—if they are free to act. And why so many whales are washing up dead on America’s East Coast.
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