The value of the currency cratered by more than 40% last year as Erdoğan’s unorthodox economic policies fueled eye‐watering levels of inflation.
But many leading economists have described the unorthodox measures as a reckless gamble, and have warned that they will force the Bank of England to slam on the brakes even harder as it tries to tame inflation that is already running near 40‐year highs at almost 10%.