Turkish lira drops to near record lows after Central Bank trims policy rate - Al-Monitor: The Pulse of the Middle East

Turkish lira drops to near record lows after Central Bank trims policy rate The move came following pressure from the Turkish president. People stand in front of a exchange office at Laleli in Istanbul, on March 22, 2021. - BULENT KILIC/AFP via Getty Images September 23, 2021 Ceding to pressure from President Recep Tayyip Erdogan, Turkey's central bank trimmed its policy rate by 100 basis points to 18% on Thursday, in an apparent bid to stimulate the economy in the midst of high inflation and mounting popular discontent at giddying prices. More:Turkish lira drops to near record lows after Central Bank trims policy rate - Al-Monitor: The Pulse of the Middle East