Reuters ahead with Turkey rate cut; lira slides to record low

Business & Finance

Reuters was ahead of the competition reporting Turkey’s rate cut. The central bank pushed forward with an interest rate cut that analysts say ignores a dangerous market meltdown and inflation running near 20%. Policymakers – who are under pressure from President Tayyip Erdogan for stimulus – cut the key rate by 100 basis points to 15%.

Market Impact

Turkey’s lira sank to another all-time low of near 11 to the dollar on the news.

Article Tags

Topics of Interest: Business & Finance

Type: Reuters Best

Sectors: Economy & PolicyFX & Fixed Income

Regions: Europe

Countries: Turkey

Win Types: Speed

Media Types: Text

Customer Impact: Important Regional Story

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