Lira de­cline.

Kathimerini English - - Focus -

Turkey’s lira weak­ened some 3 per­cent yes­ter­day amid in­creased ex­pec­ta­tions of an early loos­en­ing in mon­e­tary pol­icy af­ter data showed the coun­try’s an­nual in­fla­tion rate eased in Novem­ber from a 15-year peak. The Turk­ish lira fell sharply ear­lier this year due to con­cerns of in­vestors over the cen­tral bank’s abil­ity to re­spond ad­e­quately to high in­fla­tion as it faces pres­sure from Pres­i­dent Re­cep Tayyip Er­do­gan to lower bor­row­ing costs.

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