Is Turkey Ready for a Rate Change?
Turkey’s lira fell to a record as investors weighed whether the central bank will support the beleaguered currency when it meets. The currency has slumped more than any other across emerging markets this quarter and weakened to successive all-time lows since Donald Trump’s election victory stoked inflation expectations, driving U.S. yields higher and diminishing the appeal of riskier assets. While the median estimate of economists sees the bank keeping all rates unchanged, an increasing number expect a 25 basis-point increase to the one-week repurchase rate. Bloomberg's Justin Carrigan reports and Barclays Bank Head of Investment Strategy for Europe William Hobbs discusses Turkey and emerging markets with Guy Johnson in London and Matt Miller in Frankfurt on "Bloomberg Markets: European Open." (Source: Bloomberg)