Arab Today, arab today turkish lira hits new record low on rate cut expectations
Last Updated : GMT 19:23:53
Arab Today, arab today
Arab Today, arab today

Turkish lira hits new record low on rate cut expectations

Arab Today, arab today

Arab Today, arab today Turkish lira hits new record low on rate cut expectations

Turkey's currency the lira
Istanbul - AFP

Turkey's currency the lira hit a new record low against dollar on Thursday amid expectations that the central bank may cut interest rates as early as next week.
The lira hit a record low in value of 2.4184 to the dollar, worse than the previous record low in value of 2.4140 in mid-December.
Against the euro, the currency lost 0.7 percent in value to trade at 2.7225 lira to the euro.
The lira was also hit by Federal Reserve's upbeat outlook on the US economy and signals that it was on course to hike interest rates this year.
Turkey's central bank has been under pressure from President Recep Tayyip Erdogan to bring interest rates down to sustain growth ahead of general elections in June.
A year ago, the bank aggressively raised key rates to avert a major economic crisis following a steep drop in the value of the the lira.
Last week, it lowered the one-week repurchase rate to 7.75 percent from 8.25 percent, the first reduction in six months. But Erdogan is still pressing for further cuts.
On Tuesday, central bank governor Erdem Basci hinted that the rates might be cut during the monetary policy committee's next meeting, which has been brought forward by three weeks to February 4.
Prime Minister Ahmet Davutoglu on Wednesday welcomed the central bank's reduction in interest rates last week and said he expected the rates will be further lowered in the coming days.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today turkish lira hits new record low on rate cut expectations Arab Today, arab today turkish lira hits new record low on rate cut expectations

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today turkish lira hits new record low on rate cut expectations Arab Today, arab today turkish lira hits new record low on rate cut expectations

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
Arab Today, arab today Seeks to move past rift with Israel

GMT 08:00 2017 Monday ,08 May

Seeks to move past rift with Israel

GMT 17:28 2017 Thursday ,18 May

Saudi stocks rise in heavy trading

GMT 21:37 2017 Wednesday ,17 May

US Stocks Close Mixed

GMT 04:58 2017 Wednesday ,17 May

Tadawul index gains 0.7%

GMT 06:20 2017 Tuesday ,16 May

Tadawul index climbs 0.6%

GMT 13:43 2017 Monday ,15 May

Oman share index declines marginally
View News in Arabic - Business: أسواق مالية
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday