major hike, a minimimum of 500 babasis points, possisibly 1000o stop the r run on the currency, bebecause therere has been a cocollapsing confidence over the way the tkish economy and the currrrency has been managed. there is no indication that the centntral bank will do this. the tuturkish presidenent made r good clear -- made it perfectly clear he is opposed to intererest-right hikikes. he described interest rates as a tool of oppression. there is no indication that the central bank will go against the president. until the central bank establishes its independence, there is little hope that the fall on the currency will stop. sentiment here is that so much damage has been done that even if the central bank establishes its independence, and major hike in interest rate may not be enough to stem the fall and the currency. brent: people following turkish politics will remember that there was a recent election inn turkey. the constitution was changed giving the president more powers. how do you square that with this acute need for the central bank to show international markets that is independent. c