Facebook noscript imageTurkey’s Risky Inflation Experiment


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låsaTurkey’s Risky Inflation Experiment
Chris McGrath/Getty Images
Chris McGrath/Getty Images

Turkish President Recep Tayyip Erdoğan insists that the country’s runaway inflation can be controlled by decreasing the nominal interest rate. But, given Turkey’s current strategy for financing growth, there are clear reasons why eschewing economic orthodoxy will only wreak further havoc with prices.