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Thursday, September 13, 2018

Turkey: An Interest Rate Hike Stops the Bleeding – For Now

Turkey: An Interest Rate Hike Stops the Bleeding -- For Now

2018 has been a dark year for the Turkish economy, as the country's currency has plummeted in international trading — in part because Turkey’s economic miracle is coming to a close and because of President Recep Tayyip Erdogan’s intense dislike of interest rates. The country's central bank has now taken the step of raising interest rates despite Erdogan's comments on the matter, but the president's overbearing influence on the economy is likely to continue scaring the markets.

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