Turkey has been fighting an uphill battle to combat the weak lira and inflation. What can the central bank do? Erdal Yalcin from the Constance University of Applied Sciences tells DW the lender is in a bind.
The European Central Bank looks has removed a key pillar of its support for the euro area economies. At their final policy meeting this year, ECB governors announced the end of their bond-buying program.
The ECB's purchase of government bonds was an attempt to save countries such as Greece, Spain and Portugal from default. It was particularly controversial in Germany, where multiple lawsuits challenged its legality.
The rupee took a hit after the shock resignation of central bank governor Urjit Patel. He has reportedly been battling against interference from Prime Minister Narendra Modi's government for months.
Turkey's central bank has shown it has teeth, hiking interest rates beyond expectations to quell inflation and calm investor nerves. But as recession looms and Erdogan growls, Turkey is not quite out of the woods.
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