Turkish central bank weighs rate hike to stem lira slump
The Central Bank of the Republic of Turkey (CBRT) may raise interest rates in an attempt to stem the falling value of the country's assets and currency, governor Erdem Başçı revealed today, after last week's large-scale foreign exchange auctions failed to reverse the slump.
Başçı, in a written comment published today, said the monetary policy committee (MPC) will consider taking "a measured step" to widen the central bank's interest rate corridor during its meeting on July 23.
The governor also
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