Turkish Markets Rally as Erdogan Adds to Rate-Hike Speculation
- Lira, bonds, stocks climb as central bank tightens liquidity
- Erdogan says institution can ‘spoil’ currency speculation game
Lira in Worst Rout Since 2008: Is There Any End in Sight?
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Turkey’s beleaguered markets are finally finding some support.
The nation’s stocks, bonds and currency jumped Thursday after the nation’s central bank didn’t offer any funding to lenders through its weekly repurchase auction, tightening the availability of cash and adding to speculation of a rate increase this month. The lira extended its gain after President Recep Tayyip Erdogan called on the regulator to “spoil” the economic "game" being played against Turkey.