Surprise Slowdown in Turkey Inflation Paves Way for Big Rate Cut

Turkish inflation cooled more than expected in November, clearing a path for the central bank to deliver a more sizable interest-rate cut next week.

Annual price growth slowed to 31.1% last month, the national statistics office said Wednesday, from 32.9% in October. The print was lower than all estimates in a Bloomberg survey with the median forecast 31.6%.