The whole world was shocked when Turkish Central Bank raised its policy rate to 10% from a lending rate of 7.75%. Market reacted quickly to this massive hike. We saw lira abruptly gaining value and flirting with 2.17 against dollar, EEM (iShares MSCI Emerging Markets ETF) rallied an so on. But the question still remains. Are rates high enough to attract foreign investors in order to provide the capital inflows towards the country which has the highest foreign...