Turkish financial crisis: Lira hits record low as Erdogan says `attacks will continue` - live updates
(The Guardian Turkey)

All the day´s economic and financial news, as Turkey´s lira crisis hits shares and currencies around the globeLatest: Turkish crisis ripples through global marketsPresident Erdogan hits out at USErdogan: lira will stabilise soon (after it hits record low)Turks struggle to cope with lira´s slideIntroduction: Turkish financial crisis is deepeningTurkish central bank is boosting liquidity....Q&A: Why is the Turkish lira in freefall and should we worry? 7.08pm BST Time for a recap`The developments over recent weeks have shown that Turkey is under siege.It is clear that these attacks will continue for a while.` `Other options could include capital controls, which seem more likely than an appeal to the IMF, but that would certainly not be the least painful and would most likely precipitate a recession while postponing the return of portfolio inflows.Hence a sizable rate hike followed by drastic measures of fiscal consolidation still appear as the most viable option to re-anchor the lira and pull the Turkish economy from the brink. Related: How serious is Turkey`s lira crisis and what are the implications? `We don´t really understand any of it. I think it´s political. Erdogan argues with Trump, and we end up trapped in a corner.``We can just pray to God,` he added. Related: `We can just pray to God`: Turks struggle as lira crisis bites 6.29pm BST The US stock market is heading lower, as worries over Turkey ripple weigh on Wall Street.Banks are bearing the brunt, with Goldman Sachs and JP Morgan both down around 1%. 5.53pm BST A bit more from Ed Conway: Then the final straw last wk: Donald Trump intervening with sanctions on Turkish steel/aluminium. Why? Again it comes back to the coup and in this case Erdogan`s decision to detain that American pastor. It was that US intervention which caused the VERY sudden fall in the lira 8/ pic.twitter.com/k5TlLdAe6GHow does this end? Prob Erdogan will have to endorse higher int rates & lower govt spending or there`s a good ...