Lira Tumbles After Central Bank Disappoints

Turkey has gone and done it now. Recall what we said on Sunday evening in our week ahead preview: Meanwhile, don’t forget about Turkey where between surging inflation and jitters about Ankara’s deteriorating relationship with the West, the lira has come under extreme pressure over the past couple of months prompting a series of desperate moves by the central bank to support the currency. Of course that comes amid significant pushback from Erdogan, the self-described “enemy of interest ra