Lira sinks to record low after central bank holds fire
Turkey’s currency weakens towards 8/$ after policymakers’ surprise decision
22 October 2020 - 17:24
Istanbul — The lira sank to a record low on Thursday after Turkey’s central bank unexpectedly held back from raising its key interest rate.
Traders had been holding out for a fresh increase on Thursday after policymakers hiked rates at their previous meeting. The currency’s slump of more than 2% — the biggest decline in emerging markets — underscored their disappointment as the lira weakened towards 8/$...
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