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Wednesday, January 29, 2014

Turkey's face-saving rate hike spares lira, may hit growth - chicagotribune.com

Turkey's face-saving rate hike spares lira, may hit growth

ANKARA (Reuters) - A massive rate hike may have stalled the Turkish lira's fall and salvaged the central bank's credibility, but it stunts growth at a politically fraught time for Prime Minister Tayyip Erdogan and may not shield Turkey from a fragile global backdrop for long.

More:Turkey's face-saving rate hike spares lira, may hit growth - chicagotribune.com