Skip to main content
Advertising

Originally published January 27, 2014 at 5:49 AM | Page modified January 27, 2014 at 7:09 AM

  • Share:
           
  • Comments (0)
  • Print

Turkey's central bank calls emergency meeting

Turkey's central bank says its monetary policy committee will hold an emergency meeting as the Turkish currency, the lira, continues to weaken against foreign currencies.


Most Popular Comments
Hide / Show comments
No comments have been posted to this article.
Start the conversation >

advertising

ANKARA, Turkey —

Turkey's central bank says its monetary policy committee will hold an emergency meeting as the Turkish currency, the lira, continues to weaken against foreign currencies.

The central bank said the rate-setting panel would meet Tuesday evening "to take the necessary policy measures for price stability." It said its decision would be announced at midnight.

The central bank is under pressure to support the lira by raising interest rates, despite Prime Minister Recep Tayyip Erdogan's opposition to a rate hike.

The lira reached an all-time low of 2.39 against the dollar on Monday, before recovering to 2.31 with the central bank's announcement. It has hit multiple record lows in recent weeks as investors worry about the fallout of a corruption scandal that threatens to destabilize the government.



News where, when and how you want it

Email Icon

Rising to the Top

Rising to the Top

Coming Monday, read how one Auburn elementary school has defied the usual pattern of high poverty and low scores.

Advertising

Advertising


Advertising
The Seattle Times

To keep reading, you need a subscription.

We hope you have enjoyed your complimentary access. Subscribe now for unlimited access!

Subscription options ►

Already a subscriber?

We've got good news for you. Unlimited seattletimes.com content access is included with most subscriptions.

Subscriber login ►