Turkish inflation on course to win unwanted first prize – Fitch ...News

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Turkish inflation on course to win unwanted first prize – Fitch
The rating agency has cut Ankara’s credit rating deeper into junk territory International rating agency Fitch has slashed Turkey’s debt rating to B from B+, citing government policies that have reportedly contributed to “spiraling inflation” and discouraging capital inflows. The agency also forecast annual inflation to average 71.4% in 2022, the highest of any country rated by Fitch, adding that its trajectory remains highly uncertain.  The agency expects average inflation to slow to 57% in 2023 amid overly accommodative policies until parliamentary and presidential elections that are scheduled for June 2023. “Gui

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