FILE PHOTO: Turkish Lira banknotes are seen in this October 10, 2017 picture illustration. REUTERS/Murad Sezer/File Photo
The Turkish central bank decides Tuesday whether to hike interest rates to push down inflation and support the flagging lira in a crucial test of its credibility one month after President Recep Tayyip Erdogan’s election win spooked investors.
Erdogan won a second mandate with an outright victory in the June 24 elections but fears over economic policy were raised when he chose his son-in-law and ex-energy minister Berat Albayrak, 40, as treasury and finance minister.
The president had already alarmed investors by vowing to have a greater say in monetary policy and continually pressing the bank to reduce rates to boost growth, in a challenge to the central…
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