December 21, 2017 / 11:30 AM / a year ago

Turkish central bank sees high consumer inflation in December

ISTANBUL, Dec 21 (Reuters) - Turkey’s central bank expects a reduction in consumer inflation in December due to the base effect but rising commodity prices will still keep it relatively high, according to minutes of its latest meeting released on Thursday.

The bank last week raised its late liquidity window rate by a less-than-expected 50 basis points to 12.75 percent, its first rate hike in eight months after inflation hit a 14-year peak last month.

“The fact that inflation expectations and the pricing behavior show no sign of improvement jeopardizes the inflation outlook,” the bank said in the minutes. (Reporting by Ezgi Erkoyun; Editing by Dominic Evans)

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