Turkey’s central bank kept its policy rate unchanged at 19% on Wednesday and said inflation could be volatile through the summer after it unexpectedly rose to 17.5%, though it gave no clear indication that expected easing was imminent. The bank last changed its one-week policy rate in March when former governor Naci Agbal raised it to head off inflation, which has risen since last September and has been double digits for most of the past four years. A Reuters poll shows analysts expect rate cuts to begin in the fourth quarter when price rises should ease a bit. But estimates of the size of the cuts have narrowed in recent months as price pressures remained. The weak lira, down some 14% this
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