Ahead of today's Turkish Central bank decision, analysts were adamant that if Turkey truly wants to ward off currency bears, it would have to deliver a "shock and awe" rate hike, greater than the whisper consensus call for a 100bps, especially since this is the last rate meeting before June 24 elections, at which Erdogan is expected to be granted virtually supreme powers, and has hinted his ambitions to also dominate monetary policy.
Lira Soars After Turkish Central Bank Unleashes Massive, "Whatever It Takes" Rate Hike
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