Not sure, this came up in a odd lots podcast. You can find it by searching Understanding Turkey’s Bold Plan to Stabilize the Lira.
It was 10 months ago but the basic idea, I think is that they are trying to get Turks to hold lira instead of dollars.
Also its important to keep in mind that the typical central bank and economy dynamics that everyone has in their head typically is theories and dynamics mostly focused on the US and their market and there are axioms there that might not be true in the Turkish economy.
Now I am not saying that what they are doing is going to work or its good. Just reminding everyone that what holds true for the Fed is not necessarily true for every other central bank.
My personal opinion is that their plan is probably not working and they are trying to postpone the recession to after the elections.
It was 10 months ago but the basic idea, I think is that they are trying to get Turks to hold lira instead of dollars.
Also its important to keep in mind that the typical central bank and economy dynamics that everyone has in their head typically is theories and dynamics mostly focused on the US and their market and there are axioms there that might not be true in the Turkish economy.
Now I am not saying that what they are doing is going to work or its good. Just reminding everyone that what holds true for the Fed is not necessarily true for every other central bank.
My personal opinion is that their plan is probably not working and they are trying to postpone the recession to after the elections.