ANKARA (Reuters) -- Turkey's central bank shocked markets on Thursday by cutting its policy rate by 100 basis points to 13%, saying it needed to keep driving economic growth despite inflation surging to nearly 80% and a monetary tightening trend among its peers worldwide.
The lira dropped more than 1% as the bank took its latest step down the unorthodox policy path advocated by President Recep Tayyip Erdogan.
