Turkey's Erdogan Vows To "Significantly" Cut Rates As Trump Set To Roll Out Sanctions Over S-400 Purchase | WHAT REALLY HAPPENED

Turkey's Erdogan Vows To "Significantly" Cut Rates As Trump Set To Roll Out Sanctions Over S-400 Purchase

Lately not a week passes without some dismal news involving Turkey hitting the tape, and yet the lira continues to levitate, blissfully ignorant of the storm clouds headed for Ankara, levitating on hopes the Fed will cut rates and sprinkle golden showers on emerging markets. However, in light of the two latest developments, the Mrs Watanabe sellers of USDTRY may finally pay attention.

On Sunday, Turkish President Recep Tayyip Erdogan - who last weekend fired the head of the central bank for not cutting rates fast enough, and who has now become the de facto head of the CBRT - promised "significantly lower interest rates by the end of the year", Bloomberg reported.

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