Furtive Policy Puts Turkey on Road to 300 Basis-Point Rate Hike

Photo of Furtive Policy Puts Turkey on Road to 300 Basis-Point Rate Hike
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Shoppers wait outside a currency exchange in the Grand Bazaar in Istanbul, Turkey, on Friday, Aug. 17, 2018. Turkish President Recep Tayyip Erdogan argued citizens should buy gold, then he said sell. Add dramatic swings in the lira, and the country’s traders are now enthusiastically doing both.

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