You are viewing:-
you're reading...
1.Market Observations, 8.Was Sticky

25 May 2018 (AFR) – Turkey lifts key rate to 16.5pc in bid to stem currency slide

(25 May 2018, AFR, p13, by Onur Ant and Benjamin Harvey)

‘Turkey’s central bank raised interest rates at an emergency meeting, bowing to pressure from financial markets after the government’s rejection of higher borrowing costs plunged the nation into a currency crisis. The central bank raised its late liquidity window rate by 300 basis points to 16.5 per cent, after an extraordinary meeting of its monetary policy committee on Wednesday. It kept other rates unchanged, describing the move as a “powerful monetary tightening” and saying it’s ready to continue using all instruments. The lira reversed losses.’

Read more at AFR.com (might need AFR login access, or try: AFR.com/trial)

About robertbrain

Brainy's Share Market Toolbox. Read the honest truth about the sharemarket. Develop or fine tune your investing/trading strategies using share price charts (technical analysis), or learn about the investment strategies of others. Melbourne (Australia) based - supporting share market investors and traders to build wealth through smarter investing using my Share Market Toolbox arsenal of weapons to tackle the market.

Discussion

No comments yet.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: