Central Banks
Turkey Gets Little Relief as Inflation Slows Less Than Expected
- Annual and monthly inflation eased less than survey forecasts
- Latest inflation readings may mean rate cuts start later
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Turkey’s inflation eased slightly less than expected last month, likely reinforcing the view among many economists that an interest-rate cut is off the table this year.
Inflation slowed to 48.6% annually in October from 49.4% in September, according to official data released on Monday. Economists surveyed by Bloomberg had expected a figure of 48.3%. Monthly prices, the favored measure of Turkish central bankers, eased to 2.88% from 2.97% in September.