The Central Bank of the Republic of Turkey has promised action at its next monetary policy meeting, raising the possibility of a long-awaited policy rate hike.
The lira found a degree of relative stability in recent weeks after a precipitous drop in early August. The CBRT has tried an array of measures to stabilise the currency, but so far has shied away from raising the policy rate amid criticism from President Recep Tayyip Erdoğan.
That stance may now be changing. In an unusual piece of