Turkey proves populism doesn't pay

31 March 2024 - 00:00

Turkey’s central bank last week raised interest rates to 50%, marking a dramatic U-turn in economic policy less than a year after President Recep Tayyip Erdoğan narrowly won election for a third term. The interest rate rose from 8.5% in June last year to 45% in January this year — and now to 50%...

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