Turkey Central Bank Tries Verbal Intervention as Lira Slides

Turkey’s central bank gave advance notice of measures it may take at its April 22 meeting, a verbal intervention that has provided some respite for the lira.

Policy makers will discuss lowering the rate charged for foreign-currency loans, as well as a “measured” increase in payments to lenders for their required lira reserves, the bank said on its website Tuesday. The lira reversed losses after the statement, a rebound that gathered pace after the U.S. announced lower-than-expected retail sales figures.