Turkish Inflation Surprise Paves Way for Further Rate Cuts

Turkish inflation slowed more than expected, giving a boost to monetary policymakers after last month’s decision to resume interest-rate cuts.

Consumer price rises eased to 33.5% in July on an annual basis from 35.1% the previous month, data from state statistics office TurkStat showed on Monday. The median forecast in a Bloomberg survey of analysts was for a rate of 34.1%, while the estimates ranged between 33.8% and 34.4%.