Turkey Is Ready to Hike Rates If May Inflation Rises
- More tightening will depend on data released in June
- The nation won’t introduce capital controls: people say
This article is for subscribers only.
Turkey is prepared to raise interest rates again if inflation accelerates, according to two money managers who met with Turkey’s central bank Governor Murat Cetinkaya and Deputy Prime Minister Mehmet Simsek in London Tuesday. The lira extended its advance.
Further tightening will depend on May inflation data to be released on June 4 and the nation won’t resort to introducing capital controls, the people cited the officials as saying. They asked not to be identified because the meetings were private. The lira rose 0.9 percent to 4.5420 per dollar as of 8:18 p.m. in Istanbul.