Turkey: An Interest Rate Hike Stops the Bleeding -- For Now

Turkey's central bank has hiked its benchmark interest rate from 17.75 percent to 24 percent, bringing a measure of relief to markets after the country's currency crashed over the summer. President Recep Tayyip Erdogan had preceded the lender's announcement with a speech that slammed interest rates -- a frequent bugbear of his -- briefly spurring speculation that the bank would not move to arrest the slide of the currency and prevent the potential spread of Turkey's currency woes to other emerging economies....