Turkey yields to markets, raises interest rates as lira tanks

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)

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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)

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Turkey yields to markets, raises interest rates as lira tanks

Subscribe for less than $9/month to access this story and all Al-Monitor reporting.