Turkey Inflation Decline Boosts Rate Cut Expectations
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Turkish inflation slowed more than expected in April to the lowest level in two years, boosting expectations of looser monetary policy and sending bond yields to new record lows.
The inflation rate fell to 6.13 percent, lower than estimates of a 6.5 percent increase in a Bloomberg survey of 10 economists. Month-on-month inflation was 0.4 percent, compared with a 0.7 percent estimate in the survey, according to data released today in Ankara. The yearly increase was the lowest since April 2011.