In blaming his central bank for sabotaging his designs, Mr. Erdogan finds himself in powerful company. President Trump has intensified his attacks on his own central bank governor, Jerome H. Powell, asserting that high interest rates have made America less great than it could be. India’s prime minister has attacked the independence of the central bank, prompting resignations, while undermining international faith in the veracity of official statistics. Mr. Erdogan has a penchant for decisive action, and these days are especially challenging for him. The economy fell into recession last year, resuming modest growth this year on the strength of spending unleashed by Mr. Erdogan ahead of national elections.

Source: International New York Times July 06, 2019 18:22 UTC