Turkish central bank raises overnight lending rate | Bangkok Post: news

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Turkish central bank raises overnight lending rate

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Turkey's central bank hiked key interest rates after a crisis meeting late Tuesday, in a bold move that bolstered the lira to 2.18 against the dollar from around 2.25. 

People walk past a foreign exchange shop on January 28, 2014 in Istanbul

The bank hiked its overnight lending rate to 12 percent from 7.75 percent, the borrowing rate from 3.5 percent to 8 percent, and one-week repo rate to 10 percent from 4.5 percent, it said in a statement on its website.

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