Turkey More Than Doubles Banks’ Overnight Borrowing Cost to Curb Inflation
By Ali Berat Meric and Steve Bryant - Oct 26, 2011 3:59 PM GMT+0200
Traffic passes the headquarters of Turkey's central bank. Photographer: Kerem Uzel/Bloomberg
Turkey’s central bank more than doubled borrowing costs for banks, effectively raising interest rates to tackle the threat of inflation. Bond yields and the lira surged.
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