(Bloomberg) Turkey will raise the minimum wage by 49% in the new year, close to a level that several Wall Street lenders have warned would complicate the central bank’s efforts to curb inflation. Most Read from BloombergThe Late-Night Email to Tim Cook That Set the Apple Watch Saga in MotionChinese Carmaker Overtakes Tesla as World’s Most Popular EV MakerApple Resumes Sale of Watches After Appeals Court Lifts US BanTesla Plans Revamp of Smash Hit Model Y From China PlantGhost Ships at Reawake
Turkey s Economy Heads for Soft Landing After Dash to Hike Rates bnnbloomberg.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bnnbloomberg.ca Daily Mail and Mail on Sunday newspapers.
The lira, Turkey's hyperinflating fiat currency, has so threatened to unleash economic chaos that Pres. Recep Tayyip Erdogan has reportedly shut down his country's stock market. Late [.]
Turkey's central bank held rates at 17% as expected on Thursday and promised to tighten more if needed to battle inflation that has soared toward 15%, among the highest in emerging markets, even after sharp hikes in recent months.