World News

The Turkish lira is at its lowest, what is Erdogan’s relationship?

The Turkish lira fell to a new record low against the US dollar, today, Thursday, after the Turkish Central Bank decided to cut interest rates.

And according to the US agency “Bloomberg”, the exchange rate of the dollar rose to 9.4206 pounds, an increase of 2.19%, and this is the first time that the Turkish currency recorded this level.

The agency quoted specialist analysts as saying that there is no chance for the Turkish lira to recover, given what they described as expectations of an “irrational” interest rate cut later this week.
Turkish President Recep Tayyip Erdogan has repeatedly called on the central bank to ease monetary policy, and analysts consider that his intervention has eroded the credibility of monetary policy in the past few years.

قيم هذا المقال | Rate this post

Related Articles

Leave a Reply

Back to top button