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Subscriber OnlyMarketsEconomicsTurkish Central Bank Pledges Policy Action to Stem InflationBank makes announcement after August inflation reportPrice gains last month were broad-based, led by weak liraTurkey will get worse before it gets better, says Peter Kinsella, senior FX & rates strategist at CBA Europe.(Source: Bloomberg)ByOnur Ant and Selcan Hacaoglu+FollowSeptember 3, 2018, 7:08 AM UTCUpdated onSeptember 3, 2018, 10:22 AM UTCTurkey’s central bank signaled higher interest rates are in the offing after inflation rose more than forecast in August and producer prices surged.The lira briefly erased losses after the announcement.
