Turkey Delivers Sizable Rate Hike Hours After Erdogan Calls For Rate Cut

[We] should cut this high interest rate. That is most assuredly not what the market wanted to hear from Turkish President Recep Tayyip Erdogan just hours ahead of a key rates meeting at which the central bank is expected to hike rates. Last week, CBT pledged to take action following the latest batch of inflation data which showed consumer and producer prices soared in August, a month that saw the lira collapse under pressure from a stronger dollar, poor fundamentals, U.S. sanctions and, o