Bloomberg | Turkey Rate Increase Stems Lira Decline as Basci Defies Erdogan Bloomberg Turkey's central bank raised all its main interest rates at an emergency late-night meeting in an effort to shore up the lira, resisting government pressure and reversing years of policy aimed at stoking growth. Interest rates had been on hold since ... Turkey, South Africa hike rates to stabilize currency Turkey's crisis rate rise fails to dispel dangers Turkey's Central Bank Aggressively Raises Rates |
Turkey Crisis Puts Jailed Millionaire at Heart of Gold-Smuggling Ring Bloomberg To catch a glimpse of the former life of Riza Sarraf, flip through the celebrity columns of Turkey's newspapers. Here he is, as a fluttering tarpaulin reveals a $72 million villa on Istanbul's waterfront, a present for his pop-star wife, Ebru Gundes ... |
Washington Post (blog) | Investors Look Toward Safer Options as Ground Shifts Wall Street Journal South Africa has been dealing with labor unrest in its mining sector, where strikes have hurt output and the government was forced to raise wages during an economic slowdown. In Turkey, a drive by Prime Minister Recep Tayyip Erdogan to keep interest ... Turkey Shocks Forex Market As Fed Decision Looms Bernanke refused to play chicken with Turkey today Turkey Moves, Focus Shifts to Fed |
Voice of America | Turkey's Erdogan visits Iran to improve ties after split over Syria Reuters Iran has been a strong strategic ally of Syrian President Bashar al-Assad since the start of the uprising against him, while Turkey has been one of his fiercest critics, supporting his opponents and giving refuge to rebel fighters. But Iran's election ... Turkey's Erdogan Visits Iran to Improve Ties After Syria Split Turkey's Wrong Turn Turkey's Erdogan to arrive in Iran, discuss Ankara-Tehran ties |
Turkey raises rates to halt lira's slide Financial Times Turkey's central bank's moved aggressively on Tuesday to increase interest rates to tackle rising inflation and a sharp fall in the value of the lira. Despite warnings from Recep Tayyip Erdogan, prime minister, that he would hold the central bank to ... |
Sydney Morning Herald | Turkey steps in to defend lira with interest rate rise Sydney Morning Herald The Turkish central bank has announced a steep rise in the embattled nation's overnight lending rate from 7.75 per cent to 12 per cent, as it moves to fend off a potential crisis that has rattled global financial markets in recent days. The central ... |
Implications of Turkey's aggressive interest rate rise Financial Times In a moment of drama at midnight on Tuesday, Turkey's central bank performed a volte face, increasing interest rates across the board where it had previously been reluctant to do so. It more than doubled one key rate. It was a striking move, given the ... |
BBC News | Turkey stuns with steep rate hike, may help calm mood Reuters Turkey followed India by tightening policy at a midnight meeting of its central bank, with the stunning hike in the overnight lending rate of 425 basis points taking rates all the way to 12 percent. "Desperate times call for desperate measures, this is ... Asian stock markets stage relief rally after Turkey rate rise Global markets rise, buoyed by Turkey's rate hike Asian Markets Up After Turkey Raises Rates |
Financial Times | Speculators gobble the lira after Turkey's bid to calm currency Financial Times Turkey's jacking up of interest rates at midnight on Tuesday came as a shock to traders. After a decade or so of monetary calm in large countries, here was Ankara desperately trying to restore calm in the currency by raising its policy rate from 7.75 ... |
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 ... |