10/14/2021- 6:45 a.m.
Erdogan FIRES Three Central Bank Officials – Turkish Lira TANKS to New Record Low in the Wake of Sackings
The Turkish Lira has once again hit another historic low, following President Erdogan sacking three high-ranking officials of the Central Bank, including two deputy heads.
Erdogan apparently firmly believes cutting interest rates will curb inflation – contrary to received wisdom and top financial experts, including one of the fired officials who was reportedly the only one to oppose the interest rate cut.
Over the past few weeks, the Turkish currency has already broken its lowest level against the USD several times, while the dollar itself has been holding since June.
