Turkey’s central bank raised interest rates to halt a slide in the lira that’s seen the currency post a series of record lows.
Two U.S. senators who have played key roles in trying to advance housing-finance reform are acknowledging the legislative efforts to end government control of Fannie Mae and Freddie Mac are dead, at least for now.
Turkey’s central bank raised its late liquidity window rate by 300 basis points to 16.5 per cent on Wednesday, it said in a statement on its website after an emergency meeting of its monetary policy committee.
Spanish Prime Minister Mariano Rajoy lined up support from Basque deputies for his long-delayed budget, boosting his claim to be the steward of the country’s economic expansion.
Even as investors from Paul Krugman to Mark Mobius fretted about a meltdown across emerging markets in the wake of the Turkish lira’s tumble, one currency that many expected to catch the contagion first held firm: South Africa’s rand.
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