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Emerging MarketsEM CEE

Turkey investors disregard Erdoğan’s central bank meddling

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After one of Turkey’s strongest months in capital markets of the year, this weekend the country’s president shocked investors by firing the governor of Turkey’s central bank. While Turkish assets sold off sharply on Monday, they recovered during the week. But some onlookers are worried that the recovery reflects desperation for yield, not a reduction in risks to Turkey’s economy.

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