London-Sana
Moody's, the credit rating agency, expected today that the consumer price index in Turkey will exceed 25 percent in the coming months, and that another possible interest rate cut in December will further reduce its expectations and view of the Turkish economy.
Reuters quoted Moody's as saying in a note that we expect the consumer price index, which reached 3.21 percent in December, to accelerate to about 25 percent and even more in the coming months, adding that it expects the inflation rate to range between 17 and 18 percent by the end of 2020.
Moody's stated that the weakness of the Turkish lira strengthened the shift towards the dollar, noting that the continued rise in inflation in Turkey would limit economic expansion, and that it currently expected that real GDP growth would slow to four percent in 2022.