Turkey's central bank governor raised expectations for an emergency interest rate hike on Tuesday, denying he was hostage to political pressures and vowing decisive action to fight rising inflation and a tumbling lira. Erdem Basci said the bank would not hesitate to tighten monetary policy in a "lasting way" if needed and asserted the bank's independence amid investor concern that it has shied away from rate hikes under pressure from the government. He also ruled out any imposition of capital controls, saying such moves were "not in our dictionary." Prime Minister Tayyip Erdogan, keen to maintain economic growth ... (full story)