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Turkey lowers interest rates by one point, to 15%, and the lira collapses By EFE

by souhaib
November 18, 2021
in Forex
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Turkey lowers interest rates by one point, to 15%, and the lira collapses By EFE
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Turkey lowers interest rates by one point, to 15%, and the lira collapses
© 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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Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.



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