Turkey's currency has lost more than 48% of its value in the last year as Erdogan pushed on with his policy of eschewing rate rises despite sky-high inflation.
In its statement, the Turkish central bank's monetary policy committee also formally outlined its pursuit of "permanent liraisation" in all its foreign policy tools.dipped slightly in Thursday afternoon trading as its central bank chose to hold the key interest rate at 14%, in line with analysts' expectations.
Erdogan on Thursday pledged to lower inflation to single digits. Capital Economics sees inflation remaining around 50% in the coming months and only dropping toward the end of 2022.
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