- Unorthodox rate cuts sparked lira crisis, inflation jump
- Deposit scheme, market interventions since calmed nerves
- Ankara sees inflation, reserves relief by spring
- Ratings agencies, analysts warn of pitfalls ahead
- Workers holding strikes, protests emerging over strains
ANKARA, Feb 16 (Reuters) – President Tayyip Erdogan’s government is hoping that Turks will endure soaring living costs for just a few more months before inflation begins easing and tourists arrive, helping the economy leave a winter currency crisis behind.
The plan is risky given some small protests have already emerged in the face of annual inflation nearing 50%, and with many economists expecting price and wage pressures to persist throughout the year. read more
The lira, which plunged 44% last year, is also potentially vulnerable to the U.S. Federal Reserve’s interest rate tightening and, closer to home, any Russian military incursion into Ukraine that could strain…
