Turkey’s President Erdogan Demands Rate-Cut, Lira Slumps to Record Low

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  • Bloomberg Markets and Finance published this video item, entitled “Turkey’s President Erdogan Demands Rate-Cut, Lira Slumps to Record Low” – below is their description.

    Jun.02 — Turkey’s President Recep Tayyip Erdogan renewed calls for lower interest rates, pushing the lira to a fresh low against the dollar, and piling pressure on his central bank governor to ease policy despite high inflation. Erdogan holds the unorthodox belief that lower borrowing costs will help slow price gains and serve to stimulate an economy that’s been buffeted by the pandemic, rapid inflation and high unemployment. Bloomberg Senior Editor Justin Carrigan spoke to Francine Lacqua on “Bloomberg Surveillance: Early Edition.”

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    In This Story: Turkey

    Turkey, officially the Republic of Turkey, is a transcontinental country located mainly on the Anatolian Peninsula in Western Asia, with a smaller portion on the Balkan Peninsula in Southeastern Europe.

    Istanbul, which straddles Europe and Asia, is the country’s largest city, while Ankara is the capital. The majority of the population identifies as Turkish, around 20% identify as Kurdish.

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