Turkey Turmoiling: Lira Plunges To Record Low On Financial, Political, Terrorism Fears
Turkey’s lira is once again in free fall, after testing all-time lows against the dollar during multiple sessions of late as political turmoil and civil war wreak havoc on the currency.
On Tuesday, the central bank failed to hike rates and delivered what was generally said to be a confused set of guidelines for navigating the normalization of monetary policy in developed markets.
In short, a perfect storm of political upheaval, indeterminate monetary policy, and growing violence between Ankara and the country’s Kurdish population have conspired to send the lira on a terrifying ride and as you’ll note from the headline roundup presented below, it looks as though things are going to get a whole lot worse before they get better.
- TURKEY WON’T RAISE RATES UNTIL FED DOES: HALK YATIRIM’S TOKALI
- TURKEY LIRA NOT YET AT LEVEL TO HURT COMPANIES, AKBEN SAYS: AA
- TURKEY REPEAT ELECTIONS AUTHORIZED BY BRD BEFORE 90 DAYS: SABAH
- ERDOGAN: COALITION FAILURE MEANS TURKEY NEEDS TO ASK THE PEOPLE
- ERDOGAN: TURKEY HAS A SERIOUS GOVT FORMATION AND TERROR PROBLEM
- ERDOGAN: TURKEY’S SYSTEM HAS CHANGED, OTHERS WON’T ACCEPT IT
- GUNFIRE HEARD OUTSIDE ISTANBUL’S DOLMABAHCE PALACE: HURRIYET
