Turkish lira plunges after Erdogan defends rate cuts – WFTV

Turkish lira plunges after Erdogan defends rate cuts ANKARA, Turkey — (AP) — The Turkish currency weakened by some 10% against the U.S. dollar Tuesday, a day after President Recep Tayyip Erdogan insisted there would be no turning back from his unconventional policy of cutting interest rates despite high inflation. More:Turkish lira plunges after Erdogan defends rate cuts – WFTV