Turkey’s central bank back to life; yet why was it whacked to begin with?

Turkey’s new central bank governor Naci Agbal now deserves a big applaud. He not only seemed to contain the President’s false and very costly theory on how high interest rates create high inflation, but also managed to kick aside the “Alice in Wonderland” approach to monetary policy management. Yet, Agbal will have to prove his good start is not only a tactical maneuver or the result of a temporary tolerance from Erdogan to avert the acute TL weakening.        … Read More >Turkey’s central bank back to life; yet why was it whacked to begin with?