Turkey's central bank sticks by its lira defence

ReutersNewsPublished: January 31, 2017
Published: January 31, 2017

Turkey's central bank has vowed to stick with its unorthodox steps to manage the fall in the lira, saying its moves to drive up funding costs were working and would continue until the inflation outlook improves. As Sonia Legg reports, the lira is one of the world's worst-performing currencies and the economy shrank in the third quarter for the first time in seven years.

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