Economics
Turkey’s Central Bank Delivers Erdogan Another Cut as Lira Burns
- President pressed on with his demands for cheaper borrowing
- Lira slumped to series of record lows ahead of rate meeting
Recep Tayyip Erdogan
Photographer: Alessia Pierdomenico/BloombergThis article is for subscribers only.
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Turkey’s central bank cut its key interest rate for a third consecutive month on Thursday, heeding President Recep Tayyip Erdogan’s renewed demands for cheaper borrowing even as the currency tumbles and inflation outlook worsens.