Turkey rate decision: lifts overnight rate to 12% from 7.75

The Turkish decision has implications both for the lira and for other emerging markets. The overnight level was 7.75% This is a HUGE jump, expectations were only for a 2 – 3% hike – overnight lending rate to 12 from 7.75% one week repo to 10% vs. 4.5% – The Turkish central bank said it decide…

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Turkey rate decision: lifts overnight rate to 12% from 7.75

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Turkey rate decision: lifts overnight rate to 12% from 7.75