First Argentina, where the key interest rate was jacked up to 40 per cent to prop up the peso. Now the Turkish lira, and President Erdogan reluctantly allowing the central bank to raise rates to 16.5 per cent. But do not assume that all are dancing to the same piper's tune. Brazil's central bank, in the face of a 17 per cent devaluation of the real against the US dollar, kept its key rate at a record low 6.5 per cent. We look at where we go next.
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