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It would also enable him to to eliminate the position of prime minister and weaken parliament, thanks to a constitutional referendum passed last year that would heavily concentrate the president's power. The rate hike, he added, is a reflection of the "difficult challenges" the Turkish economy is now facing, amid deepening concerns over a growing current account deficit, sticky inflation and the consequent squeeze on consumers. Skip Navigation.


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Markets Pre-Markets U. Key Points. Turkey's lira made gains on Wednesday after its central bank raised interest rates for the first time this year in an effort to counter the country's ballooning inflation.

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Skip Navigation. Markets Pre-Markets U. Key Points. In this article. Turkey's central bank slowed the pace of interest rate cuts at its meeting on Tuesday after the failed coup attempt triggered a sell-off in the currency and sovereign debt.

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JPMorgan pushes out Turkey rate cut expectation to third quarter

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