Economics
Turkish Inflation Jump Delivers Blow to Erdogan Rate Cut Hopes
- Inflation in Turkey unexpectedly quickens to 19.25% in August
- The increase deals a blow to the president’s rate-cut hopes
Photographer: Daniel Acker/Bloomberg
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A surprise jump in Turkish inflation pushed the nation’s benchmark interest rate adjusted for price growth into negative territory for the first time since October, dealing a blow to President Recep Tayyip Erdogan’s hopes for an early cut in borrowing costs.