Foreign Exchange & Fixed Income

Reuters ahead with Turkey central bank decision to leave policy rate unchanged; market reacts

Reuters ahead with Turkey central bank decision to leave policy rate unchanged; market reacts

Reuters was ahead in reporting the Turkish central bank surprised markets by leaving rates on hold. Fifteen of 16 economists in a Reuters poll had predicted a rate hike. The news sent the lira down by 3 percent, shares of banks fell by 4 percent and the price of Turkish dollar bonds dropped as investors fretted that the bank’s decision may have been the result of political interference.