#TRY CPI (YoY) November 2017

The increase In CPI was higher than expected and this is translates to a higher then expected inflation level.
High inflation levels is a key problematic issue of the Turkish economic data.  The need to control it has been pointed out by the Big Three rating agencies as well as by the IMF.

This data serves as another indication that the Central Bank of the Republic of Turkey will proceed with a rate hike during its meeting this month.

Turkey CPI (YoY) November 2017

This data, and the expected rate hike, do not change the long term positioning for the 3 main #TRY pairs, #USDTRY, #EURTRY and #GBPTRY, which remains long.