Turkey: Inflation expected to hit 81%
31 August 2022; MEMO: Turkiye's annual inflation is expected to exceed 81per cent in August after the central bank delivered an unexpected rate cut despite continuing price pressures, a Reuters poll showed today, and it was seen declining to just below 71 per cent by end-2022.
Inflation has surged since last autumn when the lira slumped after the central bank gradually cut its policy rate by 500 basis points to 14 per cent in an easing cycle sought by President Recep Tayyip Erdogan.
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