Bloomberg – Turkey’s president Recep Tayyip Erdogan has issued a stark warning to his country’s central bank. If he wins a presidential parliamentary election next month, he says he’ll clamp down on central bank independence to keep interest rates low. This is obviously a terrible idea, and comes at the worst possible moment. The lira is in freefall and inflation on the rise. Turkey needs a strong monetary authority, not a stooge obeying the president’s bizarre orders.

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