The lira’s downward trajectory against the dollar has intensified, triggered by the Turkish president’s demands to slash rates in the face of soaring inflation
Lira’s downward trajectory against the dollar intensified, triggered by Turkish president’s demands to slash rates
As the Federal Reserve and other central banks around the world deal with rising inflation amid the economic recovery from the pandemic, Turkey -- where the rate is currently over 20% -- offers a warning. Soaring inflation has led to economic turmoil after years of broad growth. Photo: Sedat Suna/Shutterstock
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