Emerging Europe Economics

Emerging Europe Economics Update

7 August, 2018

Turkey: another emergency rate hike?

The Turkish lira has recovered some of its losses in the past few hours, but the plunge in the currency over the past few weeks is now on a scale which has, in the past, prompted the central bank to hike interest rates aggressively. We were expecting 200bp of hikes in the one-week repo rate over the coming months. But it is looking increasingly likely that this may come in just a matter of days.

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