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Bank of England Governor Andrew Bailey said on Thursday that the independence of Turkey's central bank was clearly an issue and maintaining credibility was critically important for the institution. ....
Recent Polish rate hikes should help the zloty currency, the central bank governor said in comments published on Wednesday, adding that the situation in Poland was not comparable to Turkey, where the lira has crashed. ....
Turkey's lira tumbled anew on Wednesday towards a record low, gripped by worries over soaring inflation and other economic fallout, after a 15% crash a day earlier that was driven by President Tayyip Erdogan's defence of recent rate cuts. ....
Officials from the Turkish Central Bank, Turkey's BDDK banking watchdog and the board of Turkey's banking association will meet on Thursday to discuss recent developments in the economy, a banking source told Reuters on Wednesday, amid a meltdown in the lira currency. ....
Turkey's lira nose-dived 15% on Tuesday in its second-worst day ever after President Tayyip Erdogan defended recent sharp rate cuts, and vowed to win his "economic war of independence" despite widespread criticism and pleas to reverse course. ....