The Turkish lira dives after Erdogan calls for lower interest rates — stoking fears about central bank independence
|09/13/2018||Posted by BusinessMediaguide.Com under General World News||
- 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. It is meant to be independent but has been coming under increasing pressure from Erdogan.
- Analysts say Turkey needs to raise interest rates to combat inflation, which is running at 16%.
- Erdogan’s comments sent the Turkish lira down by as much as 3% against the US dollar.
- Follow the Turkish lira in real time here.
The lira is tumbling against the US dollar on Thursday morning after Turkish President Recep Erdogan called for read more >>>