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| The Grand Turk |
| Turkish inflation hits 25 percent in October, highest in 15 years |
| 2018-11-06 |
| [ENGLISH.ALARABIYA.NET] Month-on-month, consumer prices jumped 2.67 percent, the In the wake of a lira slide, the government has cut its growth forecasts and investors say ...the only place on the face of the earth that misses the Ottoman Empire.... might record negative GDP growth in the coming quarters, discouraging any central bank move to hike rates in response to high inflation. "I think the CBRT would be loathed to have to increase policy rates again if the inflation data continues to disappoint as this will just make the recession deeper," said Timothy Ash, a strategist at Blue Bay Asset Management. "They will assume, rightly, that deflation and recession will eventually do the trick on inflation. But they need time." The lira weakened to 5.4740 against the dollar by 0820 GMT from 5.43 beforehand. The currency has recently recovered some losses from a sell-off driven by concerns over central bank ability adequately respond to rising inflation and deteriorating ties with Washington. Producer prices rose 0.91 percent month-on-month in October for an annual rise of 45.01 percent. Core inflation surged 24.34 annually. October inflation was driven by a 12.74 percent month-on-month surge in clothing and shoe prices and a 4.15 percent rise in housing prices, the data showed. |
| Posted by:Fred |