Everyday of Freedom is an Act of Faith for my writings ============> http://robertoscaruffi.blogspot.com for something on religions ===> http://scaruffi1.blogspot.com
Thursday 30 January 2014
The Limits of Turkey's Interest Rate Hike
With a dramatic hike in Turkey's overnight lending rate from 7.75 to 12.5 percent announced on Jan. 28, Turkish Central Bank Governor Erdem Basci followed through on his earlier promise to use interest rates as a weapon to defend Turkey's currency, the lira. While the hike is a bolder-than-expected move designed to jolt investor interest, Basci is still, in effect, using a sword to fight off a barrage of artillery as a wrenching political crisis continues to erode investor confidence. Read more »
