© Reuters. FILE PHOTO: Gulsen Yuce (L) shops at a bazaar in Istanbul, Turkey January 30, 2016. REUTERS/Murad Sezer
LONDON (Reuters) – Goldman Sachs (NYSE:GS) said on Thursday it expects Turkey inflation to rise further, exceed 60% in April before peaking at 65% in May-June and ending the year at 45%.
“We also see upside risks from commodity prices and the monetary policy stance which is not geared to fighting inflation,” Murat Unur at Goldman Sachs said in a note to clients.
Data out earlier had shown Turkey’s annual inflation jumped more than expected to a two-decade high of 54.4% in February, fuelled by a crash in the lira last year and soaring commodity prices.
Goldman Sachs: Turkey inflation to peak around 65% in May-June
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