Published by
Reuters
Reuters
By Daren Butler and Nevzat Devranoglu ISTANBUL (Reuters) – Turkey’s lira clawed back some losses on Wednesday after a 15% crash to record lows a day earlier driven by President Tayyip Erdogan’s defence of rate cuts, but volatility and steep price rises still worried consumers and investors. The lira has hit new all-time lows for 11 consecutive sessions and its losses against the dollar this year stand at 40%, with a 19% decline since the beginning of last week alone. On Wednesday morning, the lira weakened as far as 13.1500 to the U.S. currency. It stood at 12.6005 by 0919 GMT, 0.8% firmer tha…