EDITORIAL: Kganyago’s success in taming inflation means SA is no Turkey on rates
Things you don’t miss until they’re gone: an independent central bank
24 March 2021 - 05:00
It wasn’t that long ago that collapses in Turkey’s currency would reverberate across emerging markets, with the rand getting caught in the crossfire.
The rand’s slump in the middle of 2018, though it had domestic causes such as the drive towards expropriation without compensation, coincided with Turkish President Recep Tayyip Erdoğan railing against “economic terrorists on social media” and a slump in the lira. That was probably in reference to then US president Donald Trump, who had just imposed sanctions and boosted tariffs on Turkey...
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