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%.
Reuters ahead with Turkey rate cut; lira slides to record low
Turkey’s lira sank to another all-time low of near 11 to the dollar on the news.