This is a summary. To read the whole story subscribe to BostonGlobe.com
LONDON — Following a bout of market turmoil that’s weighed on their currencies, central banks in emerging economies are moving fast to contain the damage.
Late Tuesday, Turkey’s central bank raised its key interest rate to 12 percent from 7.75 percent to try to stave off inflation and support the national currency, which has fallen sharply in recent weeks.
The decision was taken at an emergency meeting the central bank called for after the currency, the lira, hit a record low.
The People’s Bank of China on Tuesday injected more money into the country’s financial markets to ease strained credit conditions. India’s central bank unexpectedly raised interest rates to prop up its ailing currency.
Full story for BostonGlobe.com subscribers.
Get the full story with unlimited access to BostonGlobe.com.
Just 99 cents for four weeks.