© Reuters. Turkey lowers interest rates by one point, to 15%, and the lira collapses
Istanbul, Nov 18 (.) .- The Central Bank of Turkey (TCMB) announced this Thursday a reduction of one point in basic interest rates, to 15%, which has caused an immediate depreciation of the.
This new rate cut, advocated by Turkish President Recep Tayyip Erdogan, occurs despite high inflation in Turkey, currently 19.89%.
After the announcement, the lira depreciated 3.8% to 12.4 units per euro and 10.95 per dollar.
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