Lira plunges again after Erdogan rules out higher rates

    ISTANBUL: Turkey’s troubled lira shed a further five per cent against the dollar on Monday after President Recep Tayyip Erdogan cited Muslim teachings to justify not raising interest rates to stabilise the currency. Erdogan has pushed the central bank to sharply lower borrowing costs despite the annual rate of inflation soaring to more […]

from Daily Times https://ift.tt/32gREhz