The pound has fallen 7 percent since the central bank kept the key interest rate stable last month, against broad expectations for a tightening of monetary policy that investors and economists say is necessary.Societe Generale expects the Turkish currency to fall to 9 lira against the dollar by the end of the year.
Turkish President Recep Tayyip Erdogan said on Saturday that Turkey was fighting an economic war against “the satanic triangle of interest rates, exchange rates and inflation.”
Source: Arabic 21
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