Turkey yields to markets, raises interest rates as lira tanks - Al-Monitor: The Middle Eastʼs leading independent news source since 2012

Ayla Jean Yackley

Ayla Jean Yackley

Sep 24, 2020

Governor of Central Bank of the Republic of Turkey (CBRT), Murat Uysal presents the Inflation Report during a press conference, in Ankara, on July 31, 2019. (Photo by Adem ALTAN / AFP) (Photo credit should read ADEM ALTAN/AFP via Getty Images) — Governor of Central Bank of the Republic of Turkey Murat Uysal presents the inflation report during a press conference in Ankara, on July 31, 2019. — ADEM ALTAN/AFP via Getty Images

People walk past a screen near a currency exchange agency near Grand bazaar, in Istanbul, on September 24, 2020. - Turkey's central bank on September 24, 2020 raised its main interest for the first time since September 2018, boosting the rate by two percentage points to help the lira recover from historic lows. (Photo by Ozan KOSE / AFP) (Photo by OZAN KOSE/AFP via Getty Images)

Turkish lira hits new record low as central bank holds rates

Ayla Jean Yackley

Ayla Jean Yackley

ISTANBUL, TURKEY - NOVEMBER 09: People wait to exchange money at a currency exchange shop on November 09, 2020 in Istanbul, Turkey. Finance Minister Berat Albayrak, the son-in-law of President Erdogan who has been in the role for five years, resigned Sunday citing health reasons. The country's currency has plunged 30 percent this year. After the resignation of Berat Albayrak, Turkish lira gained 3% against $ following the resignation. (Photo by Burak Kara/Getty Images)

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