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Central bank imposes bigger than expected reduction to 10.5% as Erdoğan battles to bring down borrowing costs
September’s price rises are the worst since president’s ruling party came to power 20 years ago
Decision comes at a time when central banks around the world have been raising borrowing costs
Businesses in Cappadocia region say every dollar and euro counts as country faces soaring energy import bill
Currency slides after central bank loosens policy further and lowers rate to 13%
Under-pressure currency climbs in response but analysts say move is further step towards capital controls
Little reprieve for currency after government pledges to tackle ‘topics on our economic agenda’
Currency has shed 22% this year and analysts warn fall is ‘likely to continue’ without rate rises
Discontent grows about state of economy as lira tumbles
President is backing unorthodox measures to stabilise the currency but analysts are sceptical
Rating agency says Erdogan’s flagship savings scheme will not ‘sustainably ease’ macroeconomic and financial stability risks
Ankara hopes to convert about $25bn of the hidden metal into the currency in latest scheme
Savings programme has helped slow selling in the currency, but analysts remain sceptical
Erdogan plans crackdown as lira turmoil encourages speculation in digital assets
Bankers point to ‘very concerted’ effort to boost currency after Erdogan unveiled savings scheme
Domestic money has been lured back from dollars and gold, but foreign funds will be harder to win over
And big American stocks’ outperformance
Trading chaotic as analysts warn latest plan is a backdoor rate increase that could erode public finances
And household balance sheets
Cost of protecting against default on country’s debt has also ratcheted sharply higher
Drop in main index triggers circuit breaker as lira crisis deepens
Some exporters benefit from stronger dollar but others crave certainty in face of president’s experiments
Erdogan announces pay boost just hours after central bank cuts rates, sending lira to new low
Country’s central bank expected to cut rates further this week despite inflation above 20%
Human rights body’s disciplinary action comes as Erdogan faces rising discontent over currency crisis
International Edition
