The rate hike came a day after the currency lost as much as 11% amid political turmoil triggered by the detention of a major opposition politician. And, as shown in the chart below, it has done absolutely nothing to restore confidence in the policies of this banana republic, with the USDTRY promptly back to where it was before the rate hike.
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36 sats \ 0 replies \ @kurszusz 21 Mar
It's just gambling...
The Turkish state itself (with its high-ranking subordinates) is playing the game and is not interested in the fate of its own citizens.
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