Voters are last brake on Turkey’s lunatic express | Nasdaq

Voters are last brake on Turkey’s lunatic express CONTRIBUTOR Dasha Afanasieva Reuters LONDON (Reuters Breakingviews) - The global struggle against rising prices has nothing on Turkey. Despite inflation of almost 20%, the central bank slashed its main interest rate to 15% on Thursday, the day after President Tayyip Erdogan, nicknamed The Chief, pledged to pursue this unorthodox campaign against high borrowing costs “to the end”. With few other checks on an increasingly autocratic ruler, voters might be the last chance of restoring monetary sanity. More:Voters are last brake on Turkey’s lunatic express | Nasdaq