Nomura Warns Turkey Is Still Upside Down As Fate Of Religious Leader Factors Into Central Bank Decisions

The nation of Turkey is at a crossroads on several levels. After having elected the government of President Recep Tayip Erdogan in 2014, moves were quickly made to reduce press and speech freedoms along other civil liberties following a failed 2016 coup attempt. A desire to reign in the nation’s independent central bank was done against a public bullying campaign to keep interest rates low.

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What followed the heavy-handed moves was uncertainty.