Turkish lira at new record low, CB seen sticking to playbook

Turkish lira at new record low, CB seen sticking to playbook

Turkish lira at new record low, CB seen sticking to playbook

2 hours ago

A gold dealer counts Turkish lira banknotes at his shop at the Grand Bazaar in Istanbul, Turkey. Reuters

The Turkish lira plumbed more record lows on Monday, touching 7.6 against the dollar, as expectations grew that the central bank would keep its key interest rate steady this week but continue to tighten credit via other measures.

Analysts including those at Goldman Sachs said the bank would likely use its policy meeting on Thursday to nudge up its late liquidity window (LLW), which at 11.25 per cent is the highest of a handful of interest rates that it controls.

That could help protect the lira “” which has tumbled 22 per cent this year and lost half its value since