In an open economy, the money is printed from the public demand. The more demand, the more printing, the more inflation... And the money demand is controlled d

In an open economy, the money is printed from the public demand. The more demand, the more printing, the more inflation... And the money demand is controlled down by raising interest rates, but Erdogan has ordered the central bank to keep them low, against the economists consensus. So massive speculation starts: People take a loan in lira (i. e. print money), turn the money into something else (buy an object, or turn to EUR or USD for people who can access this market), wait some time, sell back to pay the loan with a share of the value... They keep the difference and start again with more leverage. And the volume of liras increases more for a lower and lower value (inflation). The only way out is to raise the interest rates before it all goes out of control. The opposite of current policy. Inflation has passed 45% this year already.