Turkish President Recep Tayyip Erdogan on Wednesday appeared to make a crucial shift regarding the future of his inflation-ridden country’s monetary policy. Erdogan said he would accede to his new finance minister’s outlook on interest rates in Turkey, meaning a return to economic orthodoxy after years of heavy state control over the central bank and refusing to raise interest rates despite soaring inflation. Newly-appointed Finance Minister Mehmet Simsek, who previously served as deputy prime minister and finance minister between 2009 and 2018, is widely respected by investors. Economists and analysts see Simsek as ... (full story)