Turkey’s lira remained flat on Thursday, around its worst level since last December, as investors traded carefully ahead of the central bank’s policy-setting meeting, where the benchmark rate is likely to remain unchanged.

The lira is down 25% this year, on top of the 44 percent it fell last year, owing primarily to a currency crisis triggered by a series of unconventional rate cuts.

At 0530 GMT, the currency was trading at 17.60 per US dollar, unchanged from the previous day’s closing. According to a Reuters survey, all 18 experts predict the bank to keep the benchmark rate at 14 percent.

Source: Reuters

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