Thursday, January 20, 2011

Turkey Surprises With Rate Cut

"Turkey Surprises With Rate Cut

BY JOE PARKINSON

ISTANBUL—Turkey's central bank Thursday unexpectedly cut its key interest rate to a record low of 6.25% and said further bank-reserve increases were necessary, in a continuation of its policy to curb a rapid inflow of speculative investment, or so-called hot money."

More:Turkey Surprises With Rate Cut - WSJ.com