U.S. Markets close in 3 hrs 18 mins

Turkey's lira crisis may be down to Erdogan's fundamental misunderstanding of how 'evil' interest rates work

Business Insider
Turkey's lira crisis may be down to Erdogan's fundamental misunderstanding of how 'evil' interest rates work

The Turkish lira collapsed by over 35% in value versus the US dollar this year — a dramatic and sudden fall.  Yet the Turkish economy is growing strongly.  The trigger for the crisis may be investors' realisation that President Recep Tayyip Erdogan doesn't understand, or doesn't believe in