'Terrible decision and I think a mistake. Again under-delivering,' one strategist said in reaction to the news.
fell about half a percentage point against the dollar on the news, trading at 26.92 to the greenback. Earlier this week, the lira hit a fresh record low of 26.9 against the dollar over market concerns that the coming rate rise would be less than expected. The currency has lost 30% of its value against the dollar this year.
Turkey steadily lowered its policy rate from 19% in late 2021 to 8.5% last March, as inflation ballooned, breaching 80% in late 2022 and easing to just under 40% in June. While the move "marks the second step in the abandonment of an ultra-loose monetary policy," the 650 basis point rate hike in June disappointed markets that had "hoped for shock therapy after a post-election overhaul in Erdogan's economic team," said Bartosz Sawicki, a market analyst at Conotoxia Fintech.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Guy Straps Tiny Camera to His Farm Cat, Discovers It's Terrible at HuntingJake Watson, producer at the popular YouTube channel Corridor Crew, strapped a tiny action camera to his cat, which spotted a rat right away.
Leer más »
Black rain frog: The bizarre, grumpy-faced amphibian that's terrible at jumping and swimmingThe funny-looking puffed up frog is only found on the forested slopes of the southern Cape fold mountains in South Africa and spends most of its time underground.
Leer más »
Terrible Triangle: Pocono Raceway Has Produced Some of NASCAR’s Most Horrific CrashesMany NASCAR drivers have had horrific meetings with the walls at Pocono over the years.
Leer más »
EU lawmakers dampen Turkey's hopes of reopening accession talksEuropean lawmakers say that Turkey needs to make a “drastic change of course” to get EU accession talks back on track, a week after the Turkish president linked reviving the process to accepting Sweden into NATO.
Leer más »
Crews are once again digging up sinking Route 202 in King of PrussiaRoute 202 northbound will remain closed between Henderson Road and Saulin Boulevard as PennDOT engineers assess the extent of the new damage and develop a plan to make repairs, according to officials.
Leer más »