トルコのインフレが加速

トルコの1月のインフレ率は48.69%に上昇した。

2021年末からのインフレ率の急上昇は、外国為替市場でのリラ急落が影響している。

エルドアン大統領の「インフレ抑制には利下げ」が資本流出→リラ安→インフレを招いたことになる。

Erdogan blames Turkey's currency woes on 'foreign financial tools' as central bank reserves fall https://t.co/jjGjV61q3y

— CNBC (@CNBC) January 13, 2022

先行き懸念もあれば、

"Economists do not know for how much longer Erdoğan’s unorthodox policy can continue to be implemented. The fact is Erdoğan remains very determined to lower rates and the market reacts to his words rapidly and harshly," writes @mmkubilay. https://t.co/aY1iqZcUoi

— Middle East Institute (@MiddleEastInst) December 6, 2021

People don't realize how well Turkey did economically from 2001-2017. It's on the cusp of being a developed country.

Now its leader's bad macroeconomic theories could throw that all away.

TURN BACK, TURKEY!!https://t.co/hTldyxZEMK

— Noah Smith 🌐+🧦=🐇 (@Noahpinion) February 5, 2022

リラ安効果による持ち直しへの期待もある。

Can tourism ease the inflation pressure in Turkey? https://t.co/sY3oSrYNEB

— BBC Business (@BBCBusiness) February 4, 2022

Despite currency woes, Turkey may be right to cut interest rates https://t.co/tUwFa1xpsr

— South China Morning Post (@SCMPNews) January 1, 2022

トルコ経済について異色の見方をしていたのが現代貨幣理論（MMT）の教祖の一人モズラーで、インフレ沈静化と為替レート安定のためにゼロ金利政策を提唱していたが、それが間違いだったことは間違いない。

My suspicion is that a zero rate policy is a deflationary/contractionary gravitational type force compelling continuous deficit spending to sustain desired levels of aggregate demand.

— Warren B. Mosler #MMT (@wbmosler) June 14, 2021

I've proposed that Turkey cut the policy rate to 0 to reduce inflation and firm the lira.

— Warren B. Mosler #MMT (@wbmosler) August 30, 2021

I say go to a 0 rate policy now, cold turkey...https://t.co/6td17fQgjo pic.twitter.com/JGm2MlGMq5

— Warren B. Mosler #MMT (@wbmosler) October 14, 2021