Turkey ETF Jumps as Central Bank Sharply Hikes Rates
This article was originally published on ETFTrends.com.
The Turkey country-specific ETF climbed Thursday after the Central Bank of the Republic of Turkey aggressively hiked interest rates by 6.25 percentage points in a bid to clamp down on runaway inflation and prop up its lira currency. The iShares MSCI Turkey ETF (NasdaqGM: TUR) advanced 5.9% Thursday. TUR has plunged 50.2% year-to-date. Defying President [...]