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Turkey Lira Woes Ease as Central Bank Pushes Funding Cost Higher - BLOOMBERG
The pressure on Turkey’s lira is showing early signs of easing, with the central bank pushing ahead with more aggressive tightening to provide a buffer from domestic political and global trade risks.
The weighted average cost of funding from the central bank rose to its highest level this year — 48.8% as of Monday — according to the latest data compiled by Bloomberg. That’s even higher than the benchmark interest rate of 46% and indicates that policymakers want to keep a tighter stance to counter demand for dollars.
