Economics

Central Bank of Erdogan Has Foreign Cash Exiting Turkey

  • Markets slump after president ousts monetary policy chief
  • Rates should be as low as possible, Erdogan adviser says
Photographer: Nicole Tung/Bloomberg
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With President Recep Tayyip Erdogan’s sacking of his third central bank governor in less than two years, Turkey’s dominant political leader of the past century has demonstrated yet again his determination to fight the conventions of modern economics.