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Turkey's Central Bank Hikes Interest Rates

Concerns are growing about Turkey's economy after Moody's cut its debt-rating outlook from stable to negative. The financial rating agency blamed political uncertainty for the move and the downgrade comes at a bad time for Turkey's prime minister, who is expected to run in the August presidential election. The downgrade did not surprise financial markets, says analyst Atilla Yesilada, an analyst in Istanbul for Global Source Partners. He says since last year’s...

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