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Thought November 19, 2020 / 12:23 pm UTC

The Power of Orthodoxy: CBRT Soothes Market With 475-bp Hike

By Francesca Beausang
The Central Bank of the Republic of Turkey's (CRBT) decision to hike rates by 475bps matches our expectations. A hike of less than 400bps would have resulted in a lira collapse to levels beyond USD/TRY 8.0, which the country cannot afford