4 ms·

Incase anyone's wondering why, it's because Turkey's money printer is stuck on the brrr setting.

• gbN025tt2Z1E2E4 4y ago
  So the same as America's then. Great news.
  • MR4D 4y ago
    The US turned theirs off earlier this year and then turned the money shredder on in June.
  • addicted 4y ago
    Not at all. I don’t understand how people can keep fear mothering about the US’s “money printers” with a straight face when the USD is stronger than its ever been and there is no indication in any of the currency markets, bond markets, etc that it’s about to change. The Fed is still independent. And the people running it are a heckuva lot smarter than nearly everyone that Monday Morning QBs their decisions. The Turkish “Fed” is not independent at all. Every time the finance minister in Turkey wanted to make the correct financial decision over the past couple of years (ie, raising rates), Erdogan fired them and hired someone else, until he reached the point that the only person who would take up that job was a family member with no economic training.
• imtringued 4y ago
  It is more like the president is jealous of the Eurozone and thought he can do the same by lowering the interest rate. The obvious problem is that he didn't pursue any austerity policy to lower the interest rate, no, instead he messed with the central bank and just set the interest lower by decree. One of the reasons why interest rates are so low in Germany and Switzerland is because of their tendency to conduct austerity. Germany insisted on a debt brake after 2011. That is how you get lower interest rates. Getting inflation in check merely requires that the Turkish government raises taxes and does not borrow any additional money whatsoever. The risk of deflation is so far away it won't hurt the economy.