Turkey's Shocking Rate Hike Isn't Enough to Save the Lira

The central bank of Turkey just implemented a massive 650 basis point rate hike and yet the market views this as too little too late as the collapse of the Lira continues. President Recep Tayyip Erdogan's new central bank governor, Hafize Gaye Erkan has been brought in to reverse the country's laughable "Erdogan-omics" policy where interest rates were lowered to fight inflation. She's got her work cut out for her.

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