Turkish Lira Crashes To Record Low After Erdogan Says "Rates To Go Down"

Zero Hedge | 7/11/2018 | Staff
mel4 (Posted by) Level 4
Click For Photo: https://www.zerohedge.com/sites/default/files/2018-07/2018-07-11%20%284%29.jpg

Confirming that the president of Turkey may not be the most erudite central banker - despite the powers he decreed upon himself on Tuesday which grant him the power to appoint the next Turkish central bank head - moments ago Erdogan reportedly said the following two mutually contradictory statements:

So far so good: after all, with the Turkish Lira plunging to all time lows earlier, the last thing Turkey needs is FX capital controls to contain what is now runaway inflation, and a blowing out current account deficit.

Soundbite - Erdogan - Something - Sense - Light

And yet, in the very next soundbite, Erdogan said something which makes no sense in light...
(Excerpt) Read more at: Zero Hedge
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