Turkey Gets Respite on Liquidity Moves, Tight Policy Calls
- Moves were needed but ‘fire’s not out yet,’ Garanti CEO says
- Greylock’s Humes expects ‘sharp bounce’ when crisis subsides
This article is for subscribers only.
Turkish policy makers’ steps to support the financial system helped bolster investor confidence and gave the nation’s markets a much-needed breather on Tuesday.
Turkish banking shares rose as much as 5.3 percent, snapping a three-day losing streak that wiped out almost 17 percent of their market value. The lira also jumped 5 percent, paring its losses over the past month to 26 percent, while the yield on 10-year government bond fell by the most on record.