Turkish authorities ended the week of volatility in financial markets with tightening monetary policy, which helped lift the lira back from an all-time low
Turkey’s central bank on August 7 cut off financing to local lenders at its one-week buyback rate, forcing banks to borrow at a more expensive overnight window. This will result in a 150 basis point increase in the interest rate. Regulators are also preparing to lift rules that forced lenders to increase credit, according to …