Turkey's economy steams ahead of peers but inflation risks mount

Turkey's central bank has slashed 4 percentage points off borrowing rates since September

Turkey’s economy zoomed ahead of most peers to expand 7.4% in the third quarter, but soaring inflation and a slump in the lira mean the surge could be short-lived. 
 

Growth during the three months through September matched the median forecast among nine economists surveyed by Bloomberg. The seasonally and working day-adjusted figures showed an expansion of 2.7% in the last quarter from the previous three months, when gross domestic product surged 22% as the economy bounced back from the worst phase of the pandemic.

The lira weakened after the data release, trading 0.5% lower at 12.8884 against the dollar at 11:47