Turkish Lira Recovers After Rise in Key Interest Rate
The central bank will still need to do more to reassure markets, some investors say
By Mike Bird and Olga Cotaga
Updated May 23, 2018 3:20 p.m. ET
The Turkish lira, among the most vulnerable emerging-market currencies in the face of a rising U.S. dollar, plunged before recovering on Wednesday after the central bank answered concerns over spiraling inflation and its own independence from government with a rate increase.
More:Turkish Lira Recovers After Rise in Key Interest Rate - WSJ