Turkish lira recoup losses following Central Bank intervention
Monday, 13 August 2018 The fresh lira collapse on Sunday night hit Asian shares, weakened the South African rand and drove demand in global markets for safe currencies including the dollar, Swiss franc and yen.
Turkey's lira has pulled back from an overnight record low of 7.24 to the dollar after the central bank pledged to provide liquidity and cut lira and foreign currency reserve requirements for Turkish banks. As Francis Maguire reports, the announcement came after Finance Minister Berat Albayrak said...
Turkey's central bank raised the interest rate from 17.75% to 24% on Thursday, beating market forecasts. Earlier in the day, Turkish President Erdogan stoked fears that the central bank's independence..
Turkish President Recep Erdogan on Thursday said interest rates are a "tool of exploitation" and called for low interest rates. The Turkish central bank makes an interest rate decision today. Analysts..