Turkey's 11% Economic Growth Fuels Expectations of Rate Hike

By Selcan Hacaoglu
11 Δεκεμβρίου 2017, 9:29 π.μ. EET Updated on 11 Δεκεμβρίου 2017, 1:45 μ.μ. EET

Turkey’s economy grew faster in the third quarter than any other of the world’s 20 biggest economies as household spending and exports surged, stoking expectations that the central bank will increase borrowing costs to curb inflation.

Gross domestic product expanded 11.1 percent in the three months to Sept. 30 from a year earlier, the fastest pace in more than six years, according to official data released on Monday. The median estimate of economists in a Bloomberg survey was 8.5 percent.