Turkey's lira fell to its weakest level in five weeks on Wednesday after protests broke out across the country.» Read More
NEW YORK, Jan 29- Global equity markets fell on Wednesday after the U.S. Federal Reserve further trimmed its stimulus while emerging market currencies slumped after aggressive interest rates hikes by Turkey and South Africa failed to bolster their markets. On Wall Street, the major indexes all sank 1 percent.
Discussing emerging market turmoil and the Fed's decision to trim bond purchases by another $10 billion, with CNBC's Michelle-Caruso Cabrera and Ken Rogoff, Harvard University, professor of public policy and economics.
RIO DE JANEIRO/ LONDON, Jan 29- Emerging market currencies slumped on Wednesday as the U.S. Federal Reserve cut back further on monetary stimulus, offsetting aggressive interest rate hikes by Turkey and South Africa.
CNBC's Sara Eisen provides insight on a few emerging market economies faring well, including Korea and Mexico.
CNBC's Michelle Caruso-Cabrera reports the business community in Turkey is desperate for stability in the currency there.
RIO DE JANEIRO/ LONDON, Jan 29- Emerging market currencies slumped on Wednesday even after Turkey and South Africa aggressively raised interest rates to stop capital flight, as investors braced for the U.S.
Monetary tightening will hit domestic demand, Turkey's finance minister told CNBC, after the country hiked interest rates to 12 percent.
*Stocks, lira, rand falter despite Turkey rate hike. NEW YORK, Jan 29- Global equity markets fell on Wednesday and emerging-market currencies slumped on worries that aggressive interest rates hikes by Turkey and South Africa will not be enough to prop up emerging markets, and as an upcoming policy decision by the U.S.
Turkey's central bank decided to raise interest rates to strengthen its struggling economy. CNBC's Michelle Caruso-Cabrera discusses if the move will help calm emerging markets across the globe.
It's too early for a "serious revision" to Turkish growth expectations, as the national elections will highlight the country's political stability, says Mehmet Simsek, Turkey's finance minister.
Cristian Maggio, senior emerging market strategist at TD Securities, and Elizabeth Corley, CEO at Allianz Global Investors, discuss emerging markets and which one are the most under pressure.
CNBC's Michelle Caruso-Cabrera breaks down the surprising interest rate move made by the Turkish central bank to address lira concerns.
Markets are diving after Turkey and South Africa raised interest rates, suggesting investors think many central bankers have gone too far.
RIO DE JANEIRO/ LONDON, Jan 29- Emerging market currencies slumped on Wednesday even after Turkey and South Africa aggressively raised interest rates to stop capital flight, as investors braced for an expected decision by the U.S.
*Central bank restores credibility at cost of growth. *Slower economic expansion could cost Erdogan votes.
CNBC's Jim Cramer explains how the interest rate hike in Turkey is causing volatility throughout global markets.
CNBC's Michelle Caruso-Cabrera reports on the latest fallout from Turkey's drastic interest rate hike and its impact on the Turkish lira.
*Stocks, Lira, Rand falter as Turkey rate hike relief falters. LONDON, Jan 29- Turkey's lira and other emerging market currencies were back under pressure on Wednesday as expectations the Federal Reserve will press on with stimulus cuts later in the day reheated doubts over developing markets' appeal for investors.
Despite opposition from Turkey's prime minister, Turkey's central banks hiked all of its key interest rates in an effort to defend the crumbling lira, reports CNBC's Michelle Caruso-Cabrera.
Turkey's central bank raised overnight interest rates from 7.75% to 12% in an effort to defend a crumbling lira, reports CNBC's Michelle Caruso-Cabrera.