Turkish Inflation Surprise Likely to Shift Timeline for Rate Cut
- Central bank’s preferred gauge of monthly inflation picked up
- Most economists were expecting inflation to slow in September
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The Turkish central bank’s favored inflation yardstick showed a surprise acceleration last month, prompting some analysts to push back their expectations for an interest-rate cut anticipated in the fourth quarter.
Monthly inflation edged up to 2.97% from 2.47% in August, state statistics office TurkStat said on Thursday. The print was higher than every forecast in a Bloomberg survey of economists.