Erdogan Unveils Extraordinary Steps to Protect Turkish Lira, Savings.

(Bloomberg) -- President Recep Tayyip Erdogan'sgovernment announced extraordinary measures to bolsterthe Turkish lira, including the introduction of a newprogram that will protect savings from fluctuations inthe local currency. The government will make up for losses incurred byholders of lira deposits should the lira's declinesagainst hard currencies exceed interest rates promised bybanks, Erdogan said after chairing a cabinet meeting inAnkara. [Extracted from the article]

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