"Turkish markets extend rally after Federal Reserve's 75 bps rate cut
Turkish stocks opened 1 percent higher and lira rose more than 1 percent against dollar on Wednesday as the Federal Reserve's three-quarters of a point rate cut relieved the recent global crisis fears. Yesterday's rate cut lowered the federal funds rate to 2.25 percent. The Federal Open Market Committee (FOMC) was divided, voting 8-2 in favor of the rate cut and issuing a statement that highlighted inflation risks. Still, many analysts said the Fed left the door open to further cuts if needed."
More:Turkish markets extend rally after Federal Reserve's 75 bps rate cut
