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Wednesday, May 23, 2018

Turkish Lira Recovers After Rise in Key Interest Rate - WSJ

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