Turkey Underwhelms With New Spending Cuts to Curb Inflation bnnbloomberg.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bnnbloomberg.ca Daily Mail and Mail on Sunday newspapers.
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Turkey Governor to Bet Inflation Has Peaked: Decision Day Guide
May 06 2021, 6:30 PM
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Turkeyâs central bank is expected to leave its benchmark interest rate unchanged for a second meeting on Thursday after forecasting that inflation had reached its peak.
All 24 economists surveyed by Bloomberg predicted borrowing costs will be held at 19%. Turkish inflation accelerated for a seventh month in April, spurred on by a weak lira and rising global energy prices. But new bank Governor Sahap Kavcioglu predicted the pace of price gains would start dropping to 12.2% by the end of 2021.