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by throw0101d 355 days ago
> Turkish lira is steadily inflated over the last 30-40 years, well over 10% and recently over 50%.

Because the authoritarian government took over the previously independent central bank and lowered interest rates. Higher inflation was predicted by mainstream economists, and they were right.

* https://www.aljazeera.com/news/2021/3/20/turkeys-erdogan-sac...

* https://en.wikipedia.org/wiki/Currency_interventions_under_E...

1 comments

Thank God that would never happen in the US.