Economics
Investors Ask, ‘Does Turkey Even Have a Central Bank Anymore?’
- Lira tanked to new lows against the dollar on Wednesday
- Monetary policy makers haven’t attempted to stop market rout
This article is for subscribers only.
Turkey’s central bank has a reputation among investors as doing too little, too late. Now, with the lira in freefall, some are wondering if it’s going to act at all.
President Recep Tayyip Erdogan’s suggestion last week that he wants to tighten his grip on monetary policy has sent the Turkish currency sinking to record lows against the dollar.