<table><tr><th>From:</th><th>Vinit Sahni &lt;</th></tr><tr><td>Sent:</td><td>Tuesday, January 28, 2014 10:24 PM</td></tr><tr><td>To:</td><td>jeevacation@gmail.com</td></tr><tr><td>Subject:</td><td>Jeffrey - turkey. more than expected. Massive rally in the TRL and EM risk</td></tr></table>

* TURKEY'S CENTRAL BANK RAIS=S OVERNIGHT LENDING RATE TO 12.00% - this is the=key rate, and it was at 7.75% until now, so a 4.25% increase, far greater t=an the 2.50% expected.

* =strong>TURKEY'S CENTRAL BANK RAISES BENCHMARK REPO RATE TO 10.00% - from 4.=0%

* TURKEY'S CE=TRAL BANK RAISES OVERNIGHT BORROWING RATE TO 8.00% from 3.50%

	- TURKEY CENTRAL BANK RAISES LATE LIQUIDITY WIN=OW RATE TO 15%

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Vinit=/span>

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