Turkish Lira

Politics constrains the macroeconomy and capital markets by weighing on policy choices, in turn affecting a country’s ability to manage shocks.
German factory orders slump; Japan signals inflation with rising wages; Group of 20 meets in Ankara.
China and Japan release industrial and manufacturing data; ECB makes policy announcement; Scotland hosts annual Highland Games.
Sunday’s Turkish election saw voters put a stop to the president’s bid to amass power, but investors fear a new period of political uncertainty will hurt the economy.
Canada Pension Plan Investment Board moves to acquire GE division; Erdogan denied majority in Turkish elections; Japan’s GDP revised higher.
Battling inflation, the Central Bank governor also finds himself at odds with Turkish President Recep Tayyip Erdogan, who wants interest rates kept low.
The U.S. currency’s rise will leave winners and losers, forex analysts say, with developing markets in Asia faring relatively well.
Acronyms and clever labels might be catchy. But as Turkey shows, they can be pretty tenuous as well.
Turkey’s central bank does too good a job of bringing down the lira. Now what?