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Reflections from our correspondents on the ground in the Turkish capital.

ISTANBUL BLOG: Erdogan holds rates. Don’t get excited

January 20, 2022

The devil remains in the detail. Regime is not simply weak in the economics, it is also cold to the accounting.

ISTANBUL BLOG: Lira through the looking glass

January 2, 2022

Erdogan goes through contortions in attempt to stop currency depreciation without introducing a rate hike. There are now even worries his latest moves could spark a bank run.

ISTANBUL BLOG: Don’t bet for or against another rate hike in early 2022. Leave it to Erdogan

December 16, 2021

Finance industry just cannot come to terms with the fact that there is a strongman at the helm running an economic experiment conventional economists have described as outright lunacy.

ISTANBUL BLOG: Just another day in economic basket case Turkey

December 5, 2021

Academics estimate inflation now at 59%. Hapless opposition leader can’t quite get the bit between his teeth. Somebody needs to. Turkey's crisis is graver than almost anybody realises.

ISTANBUL BLOG: Central bank intervention throws good money after bad

December 1, 2021

Regulator says it’s moving against “unhealthy price formations”. It would do better to move against Erdogan’s unhealthy verbal formations if it wants to save the lira.

ISTANBUL BLOG: Turkey on the edge

November 24, 2021

As Erdogan subjects nation to his mad economic experiments, there are the first signs of people taking to the streets and of the country’s export channels seizing up.

ISTANBUL BLOG: Contagion not the story in Turkey’s crisis but for exposure EU banking is the weak link

November 20, 2021

Market, meanwhile, still puzzled by five-minute delay in announcing rates decision.

ISTANBUL BLOG: Turkey’s come up with a new inflation theory. Please keep a straight face

October 29, 2021

Erdogan and Biden won’t be short of topics to talk about when they meet in Glasgow. But the former should spare the latter a dose of macro.