Turkey’s Central Bank Tells Investors Tightening Cycle Is Near End

Turkey’s central bank told investors at a meeting in New York that interest rates are close to the levels required for establishing a disinflation course and that its tightening cycle will be completed as soon as possible, according to a person with direct knowledge of the discussions.

The central bank said on Thursday it has observed a significant improvement in inflation expectations and a decline in underlying trends as of September, the person said, asking not to be named because the meetings were closed to the press. The central bank declined to comment.