- The Turkish lira has undergone an extraordinary bounce after the country's central bank set an emergency meeting for tomorrow aimed at new policy measures to ensure price stability (i.e., a big rate hike).
- At this point, a failure to raise rates in a big way is likely to really trigger a selloff, say some analysts. "They have to hike ... and aggressively," says Standard Bank's Tim Ash.
- TUR +3.9% premarket, and Europe edges into the green for the session.
Turkish central bank sparks turnaround
Jan 27 2014, 07:25 ET