Turkey’s lira crisis may be down to Erdogan’s fundamental misunderstanding of how ‘evil’ interest rates work

Оригинал: https://www.businessinsider.com/turkish-lira-crisis-erdogan-interest-rates-2018-8

The Turkish lira collapsed by over 35% in value versus the US dollar this year — a dramatic and sudden fall. 

The trigger for the crisis may be investors’ realisation that President Recep Tayyip Erdogan doesn’t understand, or doesn’t believe in, the role central banks play in setting interest rates that control inflation.

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