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Turkey raises interest rates to stem currency crisis

Tracey Samuelson May 23, 2018
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The Turkish lira has been on a wild slide recently. It dropped 5 percent against the dollar Wednesday, its biggest loss in nearly a decade, before the country’s Central Bank stepped in with an emergency meeting that reversed some of those losses. The bank finally did something it’d been resisting. Something its president had been outspoken against. It raised interest rates.

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