"Turkish Inflation Nears 65% Amid Anticipation of Further Increases"

Turkish inflation rose to 64.8% in December, slightly below expectations but still marking a significant increase from the previous month. Despite a global trend of easing inflation, Turkey continues to struggle with high rates, exacerbated by a weak lira and controversial interest rate cuts by the central bank. However, the central bank, under new leadership, has reversed course and is now raising rates, with the market expecting inflation to peak by mid-2024. Investors are beginning to see opportunities in Turkish bonds and the stabilizing lira, although some economists believe the central bank's target inflation rate of 36% by the end of 2024 may be overly optimistic.