Turkey and South Africa shock markets with interest rate hikes


The South African Reserve Bank (Sarb) today followed its Turkish counterpart in taking markets by surprise with an interest rate rise, as the sell-off in emerging market currencies continued ahead of an expected further tapering of Federal Reserve asset purchases later today.

The Turkish central bank was expected to raise rates but defied political pressures by dramatically hiking interest rates last night, and also simplified its byzantine monetary policy framework as part of a reversal of

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: