. Erdogan named Nureddin Nebati, who was deputy minister, to the post, according to an announcement

inflation to rise further after touching a 19-year peak. Finance Minister Nureddin Nebati said he expected a

ISTANBUL( Reuters)-The Turkish lira fell as much as 6% on Thursday, extending a four-day slide after last week's big gains, as the government struggled to convince savers to ignore the volatility and worries over surging inflation and unorthodox rate cuts.... "( The locals) are not rushing to convert their dollar savings into lira, that is for sure," Hammarlund added.... On Thursday, the lira weakened to 13.4 to the dollar before recovering to 13.00 by 1630 GMT, still down 4.7% on the day....

Turkey's central bank cut the benchmark interest rate by another 100 basis points despite soaring inflation, sending the weakening national currency lira to a new historic low against the US dollar. The rate has now decreased from 15 per cent to 14 per cent, prompting the lira to lose as much as 6.2 pe rcent against the dollar to trade at 15.72 liras per dollar, reports Xinhua news agency." Cumulative impact of the recent policy decisions will be monitored in the first quarter of 2022 and during

His decision will go into effect on Monday.Mr Erdogan said, in addition to the tax discount, the government “ expects ” food companies to lower their prices by 7 per cent.... A currency crisis was triggered by the cuts and the Turkish lira hit record lows in December.... Because Turkey relies on imports for its energy needs as well as raw materials and many food supplies, prices have skyrocketed....

They came a day after Mr Erdogan warned in a speech that social media was “ the main threat to democracy ”.... “ With the proliferation of social media channels, the lies, manufactured news, we see that disinformation spreads rapidly, ” he reportedly said in a speech on Saturday.... Mr Erdogan’s pressure to keep interest rates low, part of a decades-long hostility to usury rooted in his pious Muslim beliefs, has severely damaged the lira....