Lira falls again, central bank remains adamant
Wednesday, 25 September 2013
ISTANBUL: Turkey’s lira weakened for a third day yesterday after its central bank governor sounded sanguine on the outlook for the hard-pressed currency and reiterated his commitment not to raise rates to support it.
Governor Erdem Basci also said on Tuesday he expected the lira to recover and that markets had already priced in a tapering of the US Federal Reserve’s bond buying programme — suggesting he believed pressure from an associated shift in capital out of emerging markets should now ease.
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