Frank Talk - Chart of the Week – Turkey’s “Cut Rate” Path to Growth

As Western European countries grapple with anemic growth, Turkey’s second quarter GDP rose 8.8 percent. Shares on the Istanbul Exchange sold off earlier this year on concerns of overheating, even after the economy grew 11 percent in the first quarter (recently revised to 11.7 percent), which outpaced China. Investors were concerned about high inflation and the rising disparity between the...