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Turkish PM Erdogan says central bank should lower interest rates

ISTANBUL (Reuters) - Turkish Prime Minister Tayyip Erdogan said on Friday that the central bank should hold an extraordinary meeting and lower interest rates, sending the lira lower. The lira weakened to 2.1460 against dollar by 0657 GMT after Erdogan's comments, from 2.1350 beforehand. The central bank raised interest rates massively in an emergency meeting in January despite heavy government pressure to keep rates low as the country entered an election cycle. It has kept them there since.

Turkish central bank bolsters markets against corruption probe, Fed worries

ISTANBUL (Reuters) - Turkish markets firmed on Wednesday after the central bank vowed to defend the lira, which has come under heavy pressure from a corruption scandal and worries about the country's current account gap. The central bank's offer of hefty forex-selling auctions, amounting to at least $6 billion until the end of January, has helped to temper market reaction to a corruption investigation that has pitted the government against the judiciary. Two ministers resigned on Wednesday after their sons were arrested.

Turkey leaves key interest rates unchanged

Turkey's central bank announced Tuesday that it decided to keep its key interest rates unchanged, as pressure on the lira has relented and the outlook for the economy brightened. In a statement posted on its website, the bank said the benchmark one-week repo rate was kept at 4.50 percent while the overnight borrowing and lending rates were left at 3.50 percent and 7.75 percent respectively.

23,000 Congolese flee to Uganda after clashes

At least 23,000 people have fled the town of Kamango in eastern Democratic Republic of Congo after it was briefly occupied by a rebel group, the UN refugee agency said Friday. Rebels from Uganda's Allied Democratic Forces (ADF) attacked Kamango, in the northernmost part of North Kivu province early Thursday morning, but later left the town. Some 3,000 people crossed over into Bundibugyo District in western Uganda on Thursday and the remainder overnight or on Friday, a senior police official in Bundibugyo, Denis Namuwooza, told AFP.
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