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The Turks love tea, with each one consuming an average of 1,300 cups per year. The associated transactions, though small, are sufficiently numerous that they play their part in keeping the economy ticking over. Unfortunately, inflation has become almost as identifiable with Turkey as tea. From 1975 to 2004, Turkey’s painful experience of high and chronic inflation was ....
Turkey's lira nose-dived 15% on Tuesday in its second-worst day ever after President Tayyip Erdogan defended recent sharp rate cuts, and vowed to win his "economic war of independence" despite widespread criticism and pleas to reverse course. ....