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(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

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 [...]

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero

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.

3 Min Read ISTANBUL (Reuters) - 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. The lira rallied nearly 1% in response as analysts pointed to hawkish forward guidance that kept the door open to more interest rate hikes. New bank Governor Naci Agbal had raised the one-week repo rate by 675 basis points from 10.25% since November to support the lira and address inflation, which has been mostly double digits for t...