The theme for the past two years when it comes to macroeconomics has undoubtedly been nothing but inflation. We have seen increases in policy rates at a historical pace across countries and continents.
However, there has been one notable exception i.e., the 8th largest economy in the Eurozone area: Türkiye. Turkish President Recep Tayyip Erdogan, who largely drives the economic policy of the nation believes that high interest rates are a cause of inflation rather than its remedy.