Central bankers, let Turkey be a warning
Country is now running ultraorthodox policy but still struggling to bring persistent inflation down
Related reading
High inflation punctures Turkey’s TV soap bubble
Dizi television dramas popular across the world are a parable of country’s broader economic woes
Turkey scraps inflation target as economic strains deepen
Central bank increases target to 24% from 16% due to accelerating rise in prices triggered by Iran war
Halkbank shares rally after US deal spares Turkish lender
Long-running Iran sanctions-busting case resolved after Turkey helped arrange Gaza ceasefire deal
ECB holds interest rates at 2% as inflation rises
Policymakers warn risks to economy from energy shock driven by Middle East conflict have ‘intensified’
ECB and BoE warn of rate rises as they grapple with Middle East shock
Policymakers indicate they may need to raise borrowing costs if energy price surge triggers persistent inflation
Eurozone inflation unexpectedly rises to 2.2% in November
Economists expect ECB to keep rates on hold at December meeting