CNBC.com | Turkey's Central Bank Aggressively Raises Rates New York Times Turkey is facing increased political and economic pressure to take action. The Turkish lira has been among the most battered of developing-market currencies in recent weeks. After the central bank's decision, the lira strengthened in after-hours trading. Turkey Raises Rates Sharply to Bolster Currency Turkey stuns with steep rate hike, may help calm mood Turkey Raises Rates to End Lira Fall as Basci Defies Erdogan |
Turkey Gets Aggressive on Rates Wall Street Journal ISTANBUL—Turkey's central bank unveiled emergency interest-rate hikes Tuesday in a move that outstripped market expectations and sent the lira roaring back, in a test case for other emerging markets battling plunging currencies. The central bank more ... |
Wall Street Journal (blog) | Turkey's central bank governor Erdem Basci Wall Street Journal (blog) More substantive tightening may ultimately be necessary given Turkey's large external imbalances, high and accelerating inflation and the CBRT's weak inflation credentials. Here, consistency and credibility of the CBRT's policy decision will be crucial. |
BBC News | Can Turkey's secularists defeat Erdogan? Aljazeera.com The state crisis in Turkey is deepening. According to Burhan Kuzu, a Justice and Development Party (AKP) deputy from Istanbul, the National Intelligence Agency (MIT) recently submitted a list to Turkish Prime Minister Recep Tayyip Erdogan containing ... Turkey's Erdogan to arrive in Iran, discuss Ankara-Tehran ties Turkey's Fethullah Gulen denies corruption probe links Turkey's Wrong Turn |
Aljazeera.com | Hollande cautiously backs Turkey's EU bid Aljazeera.com French President Francois Hollande has cautiously backed Turkey's aim to join the European Union despite its recent crackdown on police and judiciary and earlier French reservations about the idea. But the trip, the first by a French head of state to ... France's Hollande cautiously backs Turkey EU membership bid POLITICS > French president pays historic visit to Turkey after 22 years Hollande declines to open new EU chapter in Turkey |
Turkey: What's going on and why you should care CNBC.com Turkey has slipped alarmingly quickly from emerging market darling to market danger zone – and the emergency meeting of its central bank Tuesday evening is the latest attempt to stem an investor exodus. Local investors have been selling off their lira ... |
Turkey's Erdogan defiant amid expectations of interest rate rise Financial Times Turkey's prime minister Recep Tayyip Erdogan sounded a defiant note on Tuesday in the face of expectations of an imminent interest rate rise, vowing that the economy would continue to grow despite attempts at “sabotage” and that the beneficiary would ... |
Lira Patience Wears Thin as Higher Rates Demanded: Turkey Credit Bloomberg Turkey needs to raise the upper rate, called the overnight lending rate, by at least 300 basis points, or 3 percentage points, according to Tim Ash, chief emerging-markets economist at Standard Bank Group Ltd. in London. The rate is currently at 7.75 ... |
CNN | Turkey turmoil prompts central bank meeting CNN Turkey's central bank will hold an emergency meeting Tuesday in an effort to halt the lira's steep decline as the sell-off sweeping emerging markets deepens. The news helped the currency find firmer footing against the U.S. dollar Monday, but not ... |
CNBC.com | India saves the day...Now it's Turkey's turn CNBC.com The lira and rupee were both higher, and emerging markets were steadier across the board Tuesday, as Turkey's central bank was set to release a statement at 5 p.m. EST. The central bank activity came as Federal Reserve officials gathered for a two-day ... |