Setbacks that Turkish President Tayyip Erdogan’s ruling AK Party suffered in Sunday’s local elections will prod him into making the wrong economic policy choices, says dasha_reuters:
Results of local elections held on March 31 showed Turkish President Tayyip Erdogan’s ruling AK Party lost control of the capital Ankara for the first time since the party was founded in 2001. His party also appeared to be on course to lose Istanbul.
Rating agency Moody's said on April 1 that the central bank’s use of reserves to prop up the lira currency posed renewed questions about its transparency and independence.
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