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Inflation Seen Running to New Cycle High

TURKEY
  • Turkish inflation data due in 10 minutes - seen rising further to a fresh cycle high of 83.50% (and 68.6% core).
  • Still unlikely to deter CBRT going forward, with Erdogan recently stressing his view that rates should reach single digits by year-end (i.e. >200bps of further rate cuts across the October, November, December decisions)

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