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Turkey’s President Recep Tayyip Erdogan has announced the decision to sack three members of the country’s Central Bank Monetary Policy Commission, adding that he has already appointed two replacements.
The Turkish lira thus fell to a new record low of 9.18 against the dollar.
Since the beginning of the year, the currency has lost almost 18% against the dollar, also sunk by a jump in inflation, equal to almost 20%.
Last month, Turkey’s central bank, conditioned by Erdogan’s diktats, surprisingly cut interest rates from 19% to 18%, despite the surge in inflationary pressures.