Comment by sa-mao

Your last comment about "the President thinks that high rates are part of a Jewish-led conspiracy to bankrupt Turkey" would benefit greatly from a reference or a quote, otherwise it is just as a good as propaganda. The apparent and most obvious reason for a president to not increase interests rates and to not decrease spending is the fear of recession. This is a controversial move but it has some interesting precedents: check the case of Malaysia after the Asian financial crisis of 1997.