Turkey's Erdogan to meet central bank chief, finance minister as lira slides: sources

Turkey's Erdogan to meet central bank chief, finance minister as lira slides: sources
1 min read
13 December, 2021
Turkey's president will hold talks with a number of finance and banking officials as the local currency continues to plummet
The Turkish lira continues to lose value [Getty- file photo]

Turkish President Recep Tayyip Erdogan is expected to hold talks with the central bank governor, finance minister and heads of state banks on Monday, sources told Reuters, as the lira plummeted to new lows ahead of another expected interest rate cut this week.

The lira crashed as much as 7% to a record low near 15 to the dollar, hit by worries over Erdogan's new economic policy and prospects of another rate cut on Thursday, after the bank slashed rates by 400 basis points since September.

(Reuters)