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Business Matters: Why is Turkey's Lira collapsing?

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14/12/2021 GMT

Why is Turkey's Lira collapsing?

BBC World Service - Business Matters, Why is Turkey's Lira collapsing?

The currency slumped again today as the country's currency crisis deepens

Turkey's lira continues to collapse, and now seems to be causing real pain for the country's economy. So what is going on, and how can the country halt the slide? Fund manager, economist and founder of Sagam Strategy Consulting Murat Sagman gave us his take from Istanbul. 
Also on the programme - we hear about concerns about the development of AI weapons, and hear news of Australia's new trade ties with South Korea. 
Nick Timiraos, chief economics correspondent of the Wall Street Journal joins us to explain why central banks are trying to second guess how you feel about inflation. Nick explains how the psychology at play could tell us how long we could see high prices hang around for. 
And we hear how Peloton fought back against an unlikely adversary - the Sex and the City reboot. Joan Solsman of CNET news in New York explains that one.
Throughout the programme the BBC's Jamie Robertson will be joined from Sydney by Bloomberg's Asia Finance Editor Nabila Ahmed, and by Peter Morici, Professor Emeritus at the Smith School of Business at the University of Maryland. 

Picture Credit; EPA.

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