Many central banks from both emerging and advanced economies have responded by pivoting toward tighter monetary policy and higher interest rates. The Central Bank of the Republic of Turkey, on the contrary, has opted for loose monetary policy and lowered interest rates leading to skyrocketing of inflation to over 80 percent. What does Ankara aim to achieve with this economic policy and what are the short-, medium-, and long-term implications for the Turkish economy, politics, and Multilateralism;?
