December 4, 2018 / 10:23 AM / 10 months ago

Turkish lira weakens on concerns of looser monetary policy

ISTANBUL, Dec 4 (Reuters) - Turkey’s lira weakened nearly 1.5 percent on Tuesday, as expectations of a loosening in monetary policy rose after data showed Turkey’s annual inflation rate fell from a 15-year peak in November.

The consumer price index fell 1.44 percent month-on-month in November, official data showed on Monday, bringing the annual inflation rate down from a 15-year high as a stronger lira, tax cuts and discounted products helped to trim prices.

The lira weakened to 5.3250 against the dollar by 1019 GMT, its lowest point in a 1-1/2 weeks, from Monday’s close of 5.25. (Reporting by Daren Butler Writing by Ali Kucukgocmen Editing by David Dolan)

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