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Reuters
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The Turkish lira fell today, Thursday, ahead of a Turkish central bank interest rate decision, which is expected to raise the main interest rate by 100 basis points, to 18%.
Expectations of a rate hike have risen this month after the lira has lost as much as ten percent since mid-February, as yields on US Treasuries have risen. Inflation also rose more than expected, to almost 16% last month.
The Turkish currency stabilized at 7.4930 pounds against the dollar at 5:40 a.m. GMT, weakening slightly from Wednesday’s close at 7.4860 pounds to the dollar.
Source: Reuters
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