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since September last year.
4.2 Inflation
“Although Turkey is at war and under threat of sanctions from the US and governed by an intemperate Old Testament theocrat with a fetish for sniffing his mother's feet, ("I would kiss my mother's feet because they smelled of paradise. She would glance coyly and cry sometimes”) Fitch decided Turkey's medium-term economic future was stable and upgraded accordingly. This combined with yet another suspiciously dovish inflation release for Oct militates for one more significant rate cut before year-end. CPI annualised 8.55% and leaves Turkey's rates positive to the tune of about 5.5%. The next MPC is Dec [12] but I wouldn't be buying the mkt regardless. Too much $hit flying round,” Julian Rimmer of Investec said on November 4 in an emailed note to investors.
“Inflation in Turkey - single digits? Taxi from airport in July was TRY115 now TRY150,” Tim Ash of Bluebay Asset Management said on November 4 in a tweet, adding in another: “Turkey - decent inflation print for October, if you believe the data...”
4.2.1 CPI dynamics
23 TURKEY Country Report November 2019 www.intellinews.com
