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Turkey’s Currency Crisis Escalates Ahead of Possible Rate Cut
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Turkey’s currency crisis deepened in the lead-up to a central bank meeting Thursday, when officials might bow to pressure to resume interest-rate cuts despite soaring inflation.
Previous rate cuts demanded by Turkish President Recep Tayyip Erdogan have triggered a collapse in the Turkish lira in recent months. The currency has lost 40% of its value against the dollar since September, making it one of the worst performing investments in the world.
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