Turkey’s Teflon lira rises and rises but dollarisation rates show Turks not yet buying into recovery
Critics say Erdogan is now de facto at the wheel when it comes to Turkey's monetary policy and he's in no mood to budge.
By bne IntelliNews August 6, 2019
The Turkish lira has become the Teflon lira of late with nothing knocking it off a surge up the tracks. Not geopolitical and defence rows with the US—Donald Trump has proved a handy pal with his great reluctance to hit the Erdogan administration with sanctions—and not President Recep Tayyip Erdogan’s July firing of the central bank governor by presidential decree, leaving the idea that the national lender still retains monetary policy independence as for the birds.
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