Turkey's 1st Rate Hike In Nearly 3 Years Fails To Stem Lira’s Losses
By Dr. Duru
Turkey’s central bank is in an awful bind. Turkey’s economy is getting squeezed at the same time its currency collapses. A little over a week ago the central bank chose what it thinks is the lesser of two evils and hiked interest rates in an attempt to support the Turkish lira.
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