Turkey reaches crisis point over lira's plunge | Bangkok Post: news

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Turkey reaches crisis point over lira's plunge

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Turkey ramped up action in its increasingly desperate defence of the lira on Monday with the central bank calling a crisis meeting, prompting analysts to forecast a policy U turn and big rate rise. 

A woman counts Turkish lira banknotes at a currency exchange office in Istanbul on January 23, 2014

The bank called the meeting for Tuesday after heavy intervention on the currency markets failed to stop a run on the lira, amid severe pressure on several emerging markets.

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