September 12, 2018 / 5:54 AM / 11 days ago

Turkish lira weaker ahead of Thursday's central bank rate decision

ISTANBUL, Sept 12 (Reuters) - The Turkish lira weakened on Wednesday as investors assessed prospects for Thursday’s central bank rate-setting meeting, where policymakers are expected to raise interest rates to underpin the ailing currency.

The lira stood at 6.4600 against the dollar at 0545 GMT, easing from Tuesday’s close of 6.4225.

The currency has lost more than 40 percent of its value this year on worries over President Tayyip Erdogan’s grip on monetary policy and, more recently, over a diplomatic spat between Ankara and Washington.

However, it has been mostly flat this week with investors taking a cautious stance ahead of the central bank’s rate decision. (Reporting by Ali Kucukgocmen; Editing by Daren Butler)

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