Turkish inflation may hit historic low

This week’s most important financial development is expected to be the announcement of October’s inflation figures November 3. The monthly inflation rate is expected to increase by 1.8 percent due to an electricity price hike and expired tax discounts. Despite the increase in energy costs, the Consumer Price Index, or CPI, is expected to decline to a historic low of 4.5 percent, which would be the lowest since July 1970.

The anticipated, historic low rate of inflation will support continuing sentiment from the Central Bank that there’s still room for “limited” additional cuts in the benchmark O/N rates currently at 6.75 %.

Source: Hurriyet Daily

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