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Turkey ruled out capital controls Thursday as it battles to defend the lira and tame inflation, leaving investors guessing as to what an "out of the ordinary" economic package touted by Prime Minister Recep Tayyip Erdogan might involve.Erdogan, battling a corruption investigation shaking his government months ahead of elections, was quoted late Wednesday as saying work on "a Plan B or a Plan C" for the economy may be announced in the coming days or weeks.The central bank raised all its key interest rates by around 500 basis points Tuesday, ignoring opposition from Erdogan and stunning investors with the scale of the move, initially sending the lira up sharply and triggering a broader revival in appetite for battered emerging markets.
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