Turkey’s crisis accelerated on Friday as the lira plunged 6% to a new all-time low, gripped by concerns over an inflationary spiral brought on by President Tayyip Erdogan’s unorthodox plan to slash interest rates in the face of soaring prices.
Turkey’s crisis accelerated on Friday as the lira plunged 6% to a new all-time low, gripped by concerns over an inflationary spiral brought on by President Tayyip Erdogan’s unorthodox plan to slash interest rates in the face of soaring prices.