Turkey’s central bank needs to raise interest rates to contain the country’s financial crisis, veteran economist Stephen Roach told CNBC on Monday. Earlier in the day, Turkish lira dropped to a new all-time low of 7.24 against the U.S. dollar. It later pared some of those losses to trade around 6.99. “The markets clearly want much more decisive action,” […]
When tournaments are finally won, the victors often talk of relief. Relief that they have met, or exceeded, expectations, relief that they have got over the line. Relief, above all, that they will not have to live with the agony of defeat. Amid the happiness and excitement generated by England’s remarkable World Cup victory at […]
Shares in Europe open slightly higher Wednesday as concerns over the Turkish currency crisis continue to affect investors’ appetite. However, trading flows were also sluggish as a number of European bourses are closed due to a public holiday, including Italy, Greece and Austria. The pan-European Stoxx 600 was up by 0.18 percent with most sectors […]
