Turkey Intervenes to Boost Lira
BY JOE PARKINSON AND MARC CHAMPION
ISTANBUL— Turkey's central bank intervened directly to support the lira for the first time in five years, after a U.S. dollar auction failed to lift the currency.
The move on Tuesday aimed to demonstrate to markets the central bank's determination to halt the lira's fall by buying up currency, rather than raise interest rates, which would risk damping Turkey's economic growth, economists said.
More:Turkey Intervenes to Boost Lira - WSJ.com
