Submitted by Infamous_Sympathy_91 t3_10n634x in wallstreetbets
MoltenMirrors t1_j6bbpj0 wrote
Turkey is still cutting interest rates and claiming that will keep inflation low by "stimulating the economy". Meanwhile they're quietly dumping foreign reserves to try and keep it from hitting triple digits and trading handjobs to China and Russia for currency swaps. This is what happens when a central bank is run by the president's family.
I give it maybe 5 years before Turkey is basically Venezuela. Sooner if AK somehow loses an election and all their bullshit comes crashing down.
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