Breaking News: Turkish lira plummets to new low, dragging cenbank to the rescue | 14th Dec 2021

Breaking News: Turkish lira plummets to new low, dragging cenbank to the rescue | 14th December 2021
"Any further attempts...to stabilise lira by interventions is probably bound to fail," they said.

By 1225 GMT, the lira had trimmed losses in thin market trading to 14.08 — still 1.3% weaker on the day, and down 34% since the beginning of last month.

The central bank, under pressure from Erdogan, is expected to cut its policy rate by 100 basis points to 14% this week, a Reuters poll showed on Friday, despite inflation soaring to 21.3% last month.