Turkish Lira tumbles to record low vs. USD
Turkish Lira tumbles to record low vs. USD after as Turkey Central Bank unexpectedly cuts rate after Erdogan pressure.
Turkey's Central Bank lowers benchmark one-week repo rate – policy rate – by 100 basis points to 18%
SURPRISE SURPRISE— Wallstreetbets (@wallsteetbets) September 23, 2021
Turkey’s Central Bank CUTS benchmark interest rateto 18% from 19%
- WHAAAAAAT? pic.twitter.com/umE9IcA4Ma
CBRT just took a huge risk with macro financial stability and cut policy rates 100bps despite the rising inflation. The lira is incredibly vulnerable now.
Turkey Delivers Unexpected Rate Cut After Erdogan Pressure ( os caras são loucos ) #BCINDEPENDENTE— Roberto Motta (@_robertomotta) September 23, 2021
*TURKEY'S LIRA FALLS 1.2% AFTER RATES DECISION
*TURKEY'S BIST 100 INDEX ERASES GAINS, FALLS
*TURKEY CENBANK: A REVISION IN MONETARY POLICY STANCE WAS NEEDED0.5%