China Has Squandered Its First Great Opportunity
The world has experienced a six-month geopolitical vacuum, and China has filled it poorly.
ISTANBUL — Turkey’s Central Bank avoided raising a key interest rate Thursday, opting to impose backdoor liquidity measures to support the nation’s troubled currency.
The bank’s monetary policy committee announced it would hold its one-week repo rate steady at 8.25%, where it has remained since May 21 amid inflationary pressures on the Turkish economy.
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President Recep Tayyip Erdogan’s growing dependency on Gray Wolves may mean more trouble for the Kurds and political dissidents in Europe, while increasing risks for Syrian refugees inside Turkey.