At least Turkey’s central bank can spot an economic crisis. The central bank, unusually, issued a statement noting “significant risks” to price stability, and said policy would be “adjusted” at the Monetary Policy Committee’s Sept. 13 meeting. Until officials get control of the currency, they’ll never be able to control prices. Traders were sorely disappointed when the central bank left its official policy rate, the one-week repurchase rate, unchanged at 17.75 percent. The central bank has to pledge it will continue to lift rates until there is clear evidence that inflation is under control.

Source: Washington Post September 03, 2018 12:45 UTC