Wall Street Is Baffled as Turkey’s Reckoning Over Rates Arrives
- Central bank set to hike rate for first time in over two years
- Decision likely marks start of gradual normalization in policy
Shoppers and trams in Istanbul, Turkey.
Photographer: Moe Zoyari/BloombergThis article is for subscribers only.
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The two former Wall Street bankers now at the controls of Turkey’s $900 billion economy are confronting a market that’s more divided than ever.