Turkey’s tumbling lira tests Erdogan’s rate resolve

[المستشار الصحفى]

الصحف المصرية والعربية

article author:
Reuters


Fri, 2020-08-07 04:34


ISTANBUL: Turkish central bank head Murat Uysal has stuck to the rate-cutting script since President Recep Tayyip Erdogan hired him to lift Turkey out of a recession and currency crisis.

A year later with the COVID-19 pandemic now crushing the lira, some traders and analysts say they think Uysal will instead hike rates to head off a deeper crisis.

Erdogan, whose 17 years in power have been marked by cheap credit and booming growth, has repeated the unorthodox view that high rates cause inflation and sacked Uysal’s predecessor for not following his instructions.







Main category:
Business & Economy


Tags:
Turkish lira
Turkish economic crisis




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