Colwyn I understand the point you make on the dollar being the key fx rate for Turkey, however my point was on the general decline of the lira, against all currencies, with the example of the pound lira rate being the one that people recognise on CBF. Conventional economic wisdom is that the 'medium' term decline of around 15%, of the lira - not snapshot daily rate changes - ishould be addressed by an increase in interest rates. I simply point out that with enormous political opposition from Erdogoan, that now could be the time for the somewhat enfeebled Central Bank Governor to finally act. Like you though I am not holding my breath, but I am prepared to be pleasantly surprised.
