The Central Bank of Turkey Stands up to political pressure from it’s government
While remembering how USD/TRY parity lost 5 per cent in just 10 days between 21st and 30th January 21, on 24th Feb, it was the regular monetary policy meeting for the Central Bank Turkey (CBT). The previous meeting was on January 21st and there was increasing pressure from the Turkish government towards the CBT to lower the interest rates by a considerable margin.
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