EDITORIAL: Turkey shows how not to solve economic problems in SA
Erdogan’s central bank meddling attracts attention of ratings agencies and sends lira into meltdown
Members of the SA Reserve Bank’s monetary policy committee may well be relieved that their last meeting came before the release of SA’s disastrous unemployment report.
They may have faced a different set of questions about their priorities if they had raised interest rates at the back of a report that showed that close to 50% of the country’s adult population, inclusive of those who have stopped looking for work, were out of a job. The pace of Federal Reserve tapering, and whether inflation spikes are transitory or permanent would not have been top on anybody’s mind...