Reuters ahead with Turkey rate cut; lira slides to record low - Reuters News Agency
Business & Finance

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

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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