President Recep Tayyip Erdogan's unconventional economic policies in Turkey are about to be reversed as his new economic team works to reduce the inflation that is out of control.
Interest rates are predicted to increase sharply from their current level of 8% in less than a month after Mr. Erdogan was re-elected.
Inflation is almost 40 percent and Turks are in the grip of a cost-of-living crisis.
But up until now, the Turkish president has insisted on a low interest rate environment.
How much will the key policy rate increase? is the crucial question. Economists disagree on how abrupt the increase will be; US investment bank Morgan Stanley suggests an increase of 11.5 percentage points to 20 percent, while Goldman Sachs predicts the rate could reach 40 percent.
Other economists predict that the increase will be significant but perhaps more gradual.
Turkey's central bank's reserves have dropped to dangerously low levels after it spent billions of dollars trying to support the lira, and the country's inflation rate has remained stubbornly high.
Although many economists advocate raising interest rates to combat high inflation, Turkey's leader fired three central bank governors in less than two years for trying to follow conventional policies.
From 19 percent two years ago to 8.5 percent in recent months, interest rates have decreased.
"It is a risk, but it's a difficult circle to square," says Ozge Zihnioglu, senior politics lecturer at the University of Liverpool. "He has to do something for the economy, but a clear shift to orthodox economic policies would hit a large section of society and he wouldn't want to have that impact on local elections [next year]. ".
Turkey's economy grew dramatically in the early years of President Erdogan's leadership. But in recent years, he has ditched traditional economic wisdom by blaming high inflation on high borrowing costs and seeking to stimulate economic growth.
In the past five years, the Turkish currency has lost more than 80 percent of its value and foreign investment has plummeted. Turks are now trying to move foreign cash out of local banks.
Mehmet Kerem Coban of Kadir Has University said Turkey's economic model needed capital to survive because its reserves had melted away.
Mr Erdogan has been in power in Turkey for more than 20 years. He defeated his opposition rival last month in elections that international observers said suffered from an "unlevel playing field" that gave the incumbent president an unjustified advantage.
During the election campaign, he maintained his mantra that interest rates would stay low as long as he was in power, guaranteeing that there would be no change in economic policy. The opposition promised to reverse his focus on low interest rates.
And yet within days of his re-election, he signalled a change.
First, he appointed former banker and economist Mehmet Simsek as finance minister. Although a former member of Erdogan's government, Mr Simsek has made clear Turkey's only economic choice is to return to "rational ground" and "compliance with international norms".
Next, he appointed Hafize Gaye Erkan, 44, as Turkey's first female central bank chief. A well-known figure on Wall Street, she has never had a role in Turkey before and was chief executive of US bank First Republic before its collapse.
Mr Erdogan said last week that his position on interest rates had not changed, but "we accepted that [Mr Simsek] should take the necessary steps rapidly and effortlessly with the central bank".
Emerging markets specialist Timothy Ash believes Ms Erkan will have to "front-load rate hikes", rather than introduce them gradually. The risk, he warned on Twitter, was that she would share the same fate as a predecessor, "always playing catch-up with the market and waiting in the ante-room of the presidential palace to plead for rate hikes".
. Now they are set to rise again, and that will have repercussions for a country already in economic crisis
