hiked its key interest rate
by 250 basis points to 17.5%. Analysts were expecting a 500-basis-point hike to combat the country's annual inflation of 38.21% in June. "Terrible decision … Again under-delivering," Timothy Ash, emerging markets strategist at BlueBay Asset Management, wrote. The Turkish lira fell about 50 basis points on the news.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States United States Latest News, United States United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
CNBC Daily Open: Investment banking sees signs of lifeIn another sign the U.S. economy is more resilient than anticipated, banks have had a good showing this earnings season.
Source: CNBC - 🏆 12. / 72 Read more »
CNBC Daily Open: Investment banking’s coming backIn another sign the U.S. economy is more resilient than anticipated, banks have had a good showing this earnings season.
Source: CNBC - 🏆 12. / 72 Read more »
U.S. stocks open mostly lower as disappointing tech earnings weigh on NasdaqU.S. stock indexes opened mostly lower on Thursday amid a batch of disappointing earnings from technology behemoths, raising concerns about growth. The Dow Jones Industrial Average was up 0.3%:
Source: MarketWatch - 🏆 3. / 97 Read more »