Loans Sour in Turkey, Inflation Hits 25%, Interest Rates Spike, Fears of Contagion Rise
The economic miracle fueled by foreign-currency debt. By Don Quijones, Spain, UK, & Mexico, editor at WOLF STREET. The Bank of Turkey’s decision mid-September to hike its policy rate from 17.75% to 24% may have temporarily stemmed the rout in the Turkish lira, but the hiatus is now over. This week, the pressure is back on the … Read more