In geopolitics and in finance, August 18 was a big day for Turkey. President Recep Tayyip Erdoğan made his first visit to Ukraine since the Russian invasion, meeting his counterpart Volodymyr Zelenskyy and United Nations secretary general António Guterres, partly to try to lay the ground for peace talks with Russia.
Meanwhile, back in Ankara, the Turkish central bank shocked international markets by cutting rates, even after inflation rose to almost 80% in July. Given the frequency of changes in leadership at the Turkish central bank, the rates decision might have been playing on Erdoğan’s mind as he met with Zelenskyy and Guterres in Lviv.
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