Turkey was widely expected Thursday to pivot away from years of unconventional economics promoted by President Recep Tayyip Erdogan and dramatically raise interest rates to fight inflation and steady the troubled lira. Erdogan still defends his markets-defying idea that high interest rates contribute to -- rather than cure -- rising consumer prices that have been Turkey's bane for the past five years. But the central bank is expected to reverse course and double or even triple the current policy rate in its first meeting since Erdogan filled his government with investor-backed faces after winning tight May polls. The Turkish leader pushed the central bank to start sla
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