Turkey’s tumbling lira tests Erdogan’s rate resolve

Turkey’s tumbling lira tests Erdogan’s rate resolve

Turkey's tumbling lira tests Erdogan's rate resolve

Turkey's tumbling lira tests Erdogan's rate resolve

Turkey's tumbling lira tests Erdogan's rate resolve

Investors, analysts and sources close to Turkey's central bank say that the most direct solution to the lira's costly slide, in the form of a rate hike, would only happen as a last resort. (AFP)

Updated 07 August 2020

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Turkey's tumbling lira tests Erdogan's rate resolve

Erdogan believes high rates cause inflation and sacked his previous central bank chief for not following his instructions

Updated 07 August 2020

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ISTANBUL: Turkish central bank head Murat Uysal has stuck to the rate-cutting script since President Recep Tayyip Erdogan hired him to lift Turkey out of a recession and currency crisis.

A year later with the COVID-19 pandemic now crushing the lira, some traders and analysts say they think