ECONOMY

Turkish inflation rises to 19.6% after surprise rate cut

turkish-inflation-rises-to-19-6-after-surprise-rate-cut

Turkey’s annual inflation rose by 19.58% in September to its highest in two-and-a-half years, data showed on Monday, pushing real yields further into negative territory after the central bank surprised markets by cutting its policy rate last month.

Inflation was slightly less than expected. But it has remained in double-digits for most of the past five years and emerged as a main concern for investors and savers given political pressure for easier monetary policy.

[Reuters]