With maverick policies, Turkey cannot hope to bring down prices
Stabilising the lira will not be enough to stave off inflation
Feb 25th 2022
ISTANBUL
At least by comparison with last year’s disaster, when it crashed by 44% against the dollar, Turkey’s lira has had a good run of late. Since January the currency has lost only 4% of its dollar value. Part of the reason is a scheme to protect lira deposits against swings in the exchange rate, which the government introduced in December, and which has suppressed demand for hard currency.
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With maverick policies, Turkey cannot hope to bring down prices | The Economist