Erdogan Gives Conventional Economics a Hearing in Evening Tutorial

Faced with unrelenting pressure from President Recep Tayyip Erdogan to cut interest rates, Turkey’s central banker fell back on skills he had honed as a professor, schooling the president through 130 slides on basic economics.

The two-hour presentation late on Wednesday by embattled governor Erdem Basci, published the same day, was his most comprehensive attempt to defuse demands that he abandon textbook economic policy and instead give Erdogan’s proposals a try.