Turkey's Central Bank Borrowing Costs Boost Lira

The transcript discusses the central bank's intervention in the financial market by canceling daily repo auctions and offering higher overnight liquidity rates, which increased bank funding costs. The governor faces pressure to adjust interest rates amidst ambiguous government signals. The economy is struggling with high inflation and low growth, with recent GDP data showing contraction for the first time in seven years.

What actions did the central bank take this morning regarding interest rates?

How have markets interpreted the recent statements from the central bank governor?

What does President Erawan's call for citizens to sell the dollar and buy lira suggest about the government's economic strategy?

In what ways has the economy been affected by the recent actions and statements from the central bank?

What are the potential consequences of the central bank's decision to hike interest rates?