1120 days ago • Posted by Jasper Lawler
Erdogan may have just ushered in a currency crisis in Turkey
Turkey picks worst time to fire central banker. Erdogan removed hawkish Gov Agbal, replacing him w/professor who says high interest rates cause inflation. Widening CA deficit, depleted FX reserves & inflation at 16% make a currency crisis more likely.
Source: https://twitter.com/Schuldensuehner