Turkey's Central Bank Faces Pressure to Raise Rates

ISTANBUL—Turkey’s central bank is under mounting pressure to raise interest rates as New Year tax increases pump up inflation forecasts for this year that have already been boosted by a collapse in the lira.
Governor Erdem Basci needs to bring the overnight lending rate to at least 9.25% from 7.75% to counter deteriorating inflation expectations, according to the average forecast of 12 economists surveyed Thursday by The Wall Street…

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