MARKET NEWS
Turkish lira weakens ahead of central bank rate decision - REUTERS
ISTANBUL, Jan 20 (Reuters) - The Turkish lira lost 0.4% against the dollar on Thursday ahead of a central bank rate-setting meeting, where the bank is expected to put a cycle of rate cuts on pause.
The lira stood at 13.49 against the dollar at 0652 GMT, weakening from Wednesday's close of 13.4255.
The currency declined 44% last year on the back of cuts in the policy rate totalling 500 basis points between September and December, an easing long sought by President Tayyip Erdogan.
All but one of 16 economists in a Reuters poll expect the bank to hold the benchmark rate steady at 14%, after the central bank said the impact of the policy decisions will be monitored in Q1 2022.
Reporting by Ezgi Erkoyun; Editing by Dominic Evans