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Friday, August 19, 2022

A Turkish Playbook for Fighting Populism by Seren Selvin Korkmaz - Project Syndicate

A Turkish Playbook for Fighting Populism Aug 18, 2022 SEREN SELVIN KORKMAZ While President Recep Tayyip Erdoğan pursues a fear-based strategy of polarization, Turkey’s opposition parties are maintaining a strong alliance and a positive message. If they win next year’s national elections, democratic forces seeking to unseat populist autocrats elsewhere will certainly register how they did it. More:A Turkish Playbook for Fighting Populism by Seren Selvin Korkmaz - Project Syndicate

Summers Says MMT Backers Should Look at Erdogan’s Turkey Woes - Bloomberg

Summers Says MMT Backers Should Look at Erdogan’s Turkey Woes Ex-Treasury secretary speaks after Turkey’s surprise rate cut Turkish inflation rate at 24-year high, lira near record low Former US Treasury Secretary Lawrence Summers urged supporters of modern monetary theory -- a heterodox economic school that argues governments can spend more than they think without spurring runaway inflation -- to look at the troubles such thinking has produced in Turkey. More:Summers Says MMT Backers Should Look at Erdogan’s Turkey Woes - Bloomberg

Turkey and the German Dream | Asharq AL-awsat

Turkey and the German Dream Friday, 19 August, 2022 - 05:45 It was almost exactly 20 years ago when Kemal Dervis told a group of reporters in Ankara that in “in 20 years”, Turkey would be one of Europe’s two biggest economies alongside Federal Germany. Shortly after that remark, however, Dervis’s brief tenure as Turkey’s “economic miracle worker” in Prime Minister Bulent Ecevit’s government was over. Dervis was not to become Turkey’s Ludwig Erhard, the man who shaped West-Germany’s postwar economic revival, and Ecevit himself soon took his own curtain call. More:Turkey and the German Dream | Asharq AL-awsat

Turkish Lira (TRY/USD) Tumbles After Central Bank Delivers Shock Rate Cut - Bloomberg

Analysts Caught Off Guard as Turkey Unexpectedly Cuts Repo Rate ByTugce Ozsoy August 18, 2022 at 1:27 PM GMT+2Updated onAugust 18, 2022 at 3:54 PM GMT+2 The shock decision by Turkey’s central bank to cut interest rates against a backdrop of soaring inflation surprised analysts and economists, who expect further intervention in currency markets as pressure builds on the lira again. ore:Turkish Lira (TRY/USD) Tumbles After Central Bank Delivers Shock Rate Cut - Bloomberg

Only 28.5 percent of Turks support executive presidential system, survey finds

Only 28.5 percent of Turks support executive presidential system, survey finds Only 28.5 percent of Turkish citizens support the current executive presidential system, with 66.4 percent demanding a shift to the parliamentary system, according to a recent survey. More:Only 28.5 percent of Turks support executive presidential system, survey finds

Thursday, August 18, 2022

Turkey shocks markets with rate cut despite inflation near 80%

Turkey shocks markets with rate cut despite inflation near 80% PUBLISHED THU, AUG 18 20227:14 AM EDTUPDATED MOMENTS AGO Natasha Turak Its main policy rate, which had been at 14% for the last seven months, was cut to 13% in a complete mismatch to what other central banks are doing around the world. Analysts expected no rate change; the move lower by the Turkish central bank has taken markets by surprise. The lira, Turkey’s currency, slid 0.9% against the dollar following the news, trading at more than 18.1 to the greenback — near a record low. Turkish President Tayyip Erdogan arrives for a NATO summit in Madrid, Spain June 29, 2022. Nacho Doce | Reuters Turkey’s central bank shocked markets Thursday with a cut to its benchmark policy rate, despite inflation in the country sitting near 80%. The lira, Turkey’s currency, slid 0.9% against the dollar, trading at more than 18.1 to the greenback after the news — near a record low. More:Turkey shocks markets with rate cut despite inflation near 80%