Turkish central bank sparks turnaround


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.

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Comments (3)
  • thodoris91
    , contributor
    Comments (61) | Send Message
     
    too many countries" hiked...and aggressively". we all know the result
    27 Jan 2014, 08:29 AM Reply Like
  • june1234
    , contributor
    Comments (4356) | Send Message
     
    Took em long enough borrowing a page from uncles El Bernanke and Dragi play-books. They all want to hike but they can't just like everywhere else
    27 Jan 2014, 08:54 AM Reply Like
  • TAS
    , contributor
    Comments (3811) | Send Message
     
    For now.
    27 Jan 2014, 10:09 AM Reply Like
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