Turkish lira weakens

21 Jan, 2015

The Turkish lira weakened to 2.35 against the dollar on Tuesday, its weakest in just over two weeks, after ministers said the central bank's 50 basis point cut in the one-week repo rate was insufficient. The central bank lowered the repo rate in response to slowing inflation and in the face of increased political pressure for a softer monetary policy, but left other key rates on hold on Tuesday.

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