ISTANBUL, Nov 22 (Reuters) - Turkey"s lira firmed to below 11.2 to the dollar on Monday, having hit a record low late last week after the central bank slashed its policy rate again under pressure from President Tayyip Erdogan, and signalled more easing was on the way. The lira , traded at 11.17 at 0450 GMT, firming 0.5% from a close of 11.2995 on Friday. It has lost a third of its value this year and Friday"s all-time weakest level of 11.32 marked an eighth straight session of record lows. The lira plunged some 12% last week alone, making it the worst performer in emerging markets, driven by the central bank"s decision to cut its policy rate by 100 basis points to 15% despite inflation running near 20%. read more Last Thursday"s crash marked the biggest daily drop for the lira since Erdogan, a self-described enemy of interest rates, sacked former hawkish central bank chief Naci Agbal in March. read more Reporting by Ebru Tuncay Editing by Daren Butler Our Standards: The Thomson Reuters Trust Principles.