Marcus Ashworth, Columnist

Erdogan Fought the Market, and the Market Won

The question is if central bank independence will survive the election.

June 7, 2018 at 12:41 PM UTC

Marcus Ashworth is a Bloomberg Opinion columnist covering European markets. Previously, he was chief markets strategist for Haitong Securities in London.

We’ll see who’s doing a victory dance after the elections
Photographer: Guillermo Legaria Schweizer/LatinContent Editorial

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Turkey's central bank has stepped out from the shadow of President Recep Tayyip Erdogan. Hopefully it can stay there.

Policy makers raised their benchmark one-week repurchase rate on Thursday by 125 basis points to 17.75 percent, 25 basis points more than the most hawkish forecast. And importantly they’ve kept themselves on a hiking cycle. Their statement said