Turkey’s central bank Thursday raised interest rates for the first time in nearly three years, seeking to counter the economic reverberations of political upheaval at home and joining emerging-market peers in trying to stem a currency selloff after Donald Trump clinched the U.S. presidency earlier this month. Source The Wall Street Journal
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Talks between Turkey and Russia for Ankara to procure S400 missiles for a domestic air defense system have “progressed significantly”, Turkey’s Defence Minister Fikri Isik, said on Wednesday. Isik also said that Turkey’s preference was to originally buy a NATO system but that wasn’t possible. Source: Reuters
Bank of Japan Governor Haruhiko Kuroda said Wednesday that pushing rates further into negative territory was off the table, reflecting both his upbeat inflation outlook and his concerns over the contentious policy measure. The BOJ introduced the measure in January 2016, imposing a 0.1% charge on certain yen deposits. Source: MarketWatch
The European Central Bank could consider renewing its offer of free long-term liquidity to lenders though it shouldn’t turn it into a permanent measure, a Governing Council member said. The ECB is scheduled to offer the last of its long-term loans to banks next month. Source: Bloomberg