Bloomberg News

Turkish Yields Drop After Bank Sees Core Inflation Peaking at 8%

October 06, 2011

Oct. 6 (Bloomberg) -- Turkish bond yields declined after the central bank said it expected core inflation to peak at 8 percent in the fourth quarter.

Yields on two-year benchmark debt fell 11 basis points to 8.43 percent at 11:29 a.m. in Istanbul.

The central bank’s preferred measure of core inflation, which excludes energy, food, tobacco and gold prices, jumped to a 2 1/2-year high of 7 percent in September from 6.2 percent a month earlier, the statistics agency said on Oct. 3.

To contact the reporter on this story: Selcuk Gokoluk in Istanbul at sgokoluk@bloomberg.net

To contact the editor responsible for this story: Mark Bentley at mbentley3@bloomberg.net


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