[sa-mao]

Your last comment about "the President thinks that high rates are part of a Jewish-led conspiracy to bankrupt Turkey" would benefit greatly from a reference or a quote, otherwise it is just as a good as propaganda. The apparent and most obvious reason for a president to not increase interests rates and to not decrease spending is the fear of recession. This is a controversial move but it has some interesting precedents: check the case of Malaysia after the Asian financial crisis of 1997.

[rolleiflex]

Unfortunately he is correct, if poorly worded. I’m failing to find any sources in English right now on my phone, but he really did say this a couple years ago, pretty much word by word.

That does not always imply that the Turkish Central Bank is doing it because of his reasons, but Erdogan is remarkably like Netanyahu in that he knows well what is going to work on his audience, and at that time, this did.