Turkey's inflation rate for May was 9.66 per cent, year on year, beating most analysts' expectations and giving a boost to the lira, dpa reported. Analysts expect inflation to continue a slight downward trend for the remainder of the year and avoid hitting double digits. The data comes as the central bank recently lowered its key lending rate by 50 basis points to 9.5 per cent, amid speculation it could again decrease the benchmark rate at the next meeting of the monetary policy committee, if inflation stays in the lower end of the target range.
