Economics
Turkish Lira Rallies as Central Bank Pledges Tight Policy
- Currency gains as much as 1.7% after briefing with investors
- Kavcioglu delivered a message of policy continuity in address
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The Turkish lira gained the most in two weeks after the country’s new central bank governor signaled he wouldn’t stray from his predecessor’s hawkish policies.
The currency rose as much as 1.7% against the dollar after Governor Sahap Kavcioglu discussed a tight monetary-policy stance in his first address to domestic investors on Thursday, according to a person with direct knowledge of his presentation.