Turkish Inflation Jump Wipes Out Most of Real Interest Rate - Bloomberg

Turkish Inflation Jump Wipes Out Most of Real Interest Rate By Burhan Yuksekkas and Kerim Karakaya August 3, 2021, 9:05 AM GMT+2 Updated on August 3, 2021, 9:59 AM GMT+2 Turkey’s inflation climbed more than expected in July to nearly the level of the central bank’s benchmark interest rate, further diminishing the chances of an early cut in borrowing costs sought by the president. Higher energy prices and the impact of a reopening economy on everything from food to apparels drove the pace of price gains to an annual 18.95%, bringing the real interest rate adjusted for inflation to five basis points. More:Turkish Inflation Jump Wipes Out Most of Real Interest Rate - Bloomberg