8/11/2008

Merrill Lynch estimates Turkey's year-end inflation to stand at 11.5%

Turkish Press - International investment advisor Merrill Lynch said it expected Turkey`s year-end inflation to stand at 11.5 percent, revising its inflation forecast for 2009 down from 8.9 percent to 7 percent. The firm said in its analysis that the Turkish Central Bank was expected to keep interest rate around 16.75 % until the end of the year. It said, the bank was not expected to change the rate as the political crisis in Turkey had ended, risk expectations had improved and oil prices had decreased.
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