Turkey Raises Interest Rate Amid Lira Slump
Monetary Policy Committee Raises Key Rate to 7.75%
BY EMRE PEKER AND CLARE CONNAGHAN
ISTANBUL—Turkey's central bank on Tuesday delivered a surprise by ramping up lending rates for a second time in as many months to fight a lira slump that threatens to undermine efforts to stabilize the economy. But the move failed to impress markets.
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