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?

Guldem Atabay: And another central bank governor goes down the drain in Turkey!

The way he is being appointed as the central bank governor kills any remaining pieces of credibility the bank had.  It only proves how the central bank governors are handpicked by Erdogan to please the President’s own economic agenda rather than serve to stabilize the economy at times perhaps contradicting political priorities.    … Read More >Guldem Atabay: And another central bank governor goes down the drain in Turkey!