ANKARA: Turkish President Tayyip Erdogan will chair a meeting of the government's economic coordination committee on Wednesday, broadcasters said, the evening before the central bank meets to set interest rates and after the lira hit record lows.
The lira has weakened some 14 percent against the dollar this year, hit by global volatility in the wake of Donald Trump's U.S. election victory and by concerns about domestic politics after July's attempted coup.
The currency's slide has triggered expectations that the central bank may on Thursday hike its main interest rate for the first time in almost three years.
Six of 13 institutions in a Reuters poll on Friday expected the bank to hike its main one-week repo rate by 25 basis points to 7.75 percent. That would be the first hike since January 2014, when the bank met in an emergency session and raised its main interest rate to 10 percent to stem sharp lira falls.
Erdogan, who has repeatedly railed against the high cost of credit in Turkey and has equated high interest rates with treason, will chair Wednesday's meeting at the presidential palace at 7:30 pm (1630 GMT), NTV said.
Officials were not immediately able to confirm the meeting.
The lira firmed to 3.3725 against the dollar after the meeting was announced from 3.3860 beforehand.
Prime Minister Binali Yildirim had been scheduled to chair a meeting of the committee on Tuesday but it was cancelled.
The committee had already met on Friday and sources from Yildirim's office said the central bank had agreed at the meeting it would "take the necessary steps" to ensure price stability.
