The Turkish lira has sunk to a new low just a day after the country nearly doubled its main interest rate, reversing one of President Recep Tayyip Erdogan’s unorthodox economic policies. Experts have warned that they expect the lira to “continue tanking” as the country catches up on the decision to raise interest rates.
Newly appointed Governor Hafize Gaye Erkan hinted at more hikes until the inflation situation in the country improves.
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