"Is Turkey bracing for a crisis?
Turkey has an emerging market, but it also has a history of financial crises and turbulence.
US dollars are exchanged for Turkish liras in Ankara, Turkey, in this file photo. As inflation picks up, Turkey is taking unusual action: lowering interest rates and raising reserve requirements.
Burhan Ozbilici / AP / File
By Andreas Hoffmann, Guest blogger / January 31, 2011
While the US, Japan and Europe slashed interest rates to unprecedented low levels, growth remains sluggish. Dealing with debt problems and supporting the recovery, the ECB provided money to quasi-finance the euro area problem children. Similarly the Federal Reserve is trying to jump start the economy and has been flooding markets with money so that they have no idea about what to do with all the liquidity."
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