Turkey’s hyperinflation: a Lesson for the South African Reserve Bank

Hyperinflation forced the hand of the recently re-elected, Turkish President Tayyip Erdogan to up lending rates after he kept them artificially low to promote economic growth. It backfired, sending possible warning shots to those making similar Erdogan-noises. ETM’s Ilze-Marie Le Roux and Head of Research & Director, George Glynos, chat about what went wrong , how to avoid a similar cost fate and what South Africa can learn from it.