Turkey's Unravelling Economy

Send us a textThe Turkish lira has been in meltdown as President Erdogan rejected warnings on the dangers of his recent interest rate cuts. He vowed that there was “no going back”.The currency, which has lost about 40 per cent of its value against the dollar since the central bank started lowering borrowing costs in September, fell to a new record low of TL18.36 against the dollar on MondayTrading on Turkey’s main stock exchange was halted for the second consecutive session following a ...