Turkish Lira Plumbs Record Low on Erdogan’s Continued Calls for Rate Cuts

The currency crisis deepened after President Recep Tayyip Erdogan defended his policy of demanding lower interest rates despite rising inflation, sparking another selloff of the lira.

Turkish Lira Plumbs Record Low On Erdogan’s Continued Calls For Rate Cuts

The Wall Street Journal – by Jared Malsin

The central bank sold foreign reserves after the lira reached new lows following comments by President Recep Tayyip Erdogan in defense of his unorthodox economic policies.

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