Turkish stocks slumped on Wednesday, with the speed of the declines resulting in two trading halts, as investors worried about the country’s relationship with Israel and the upcoming interest rate decision by the central bank due Thursday.
The Turkish central bank is expected to raise its one-week repurchase rate to 35% at its meeting Thursday, which would be its fifth hike since May, to try to reduce inflation running above 60%. “Hamas is not a terrorist organisation, it is a liberation group, ‘mujahideen’ waging a battle to protect its lands and people,” he told lawmakers from his ruling AK Party, using an Arabic word denoting those who fight for their faith, Reuters reported.
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