October 3, 2018 / 7:51 AM / a month ago

Turkish bonds drop after inflation jumps 25 percent

LONDON, Oct 3 (Reuters) - Turkey’s dollar-denominated bonds fell on Wednesday after data showed a larger-than-expected 25 percent year-on-year jump in inflation, raising the pressure on the country’s central bank to raise interest rates again.

Ankara’s 2030 maturing bonds saw the biggest moves, falling more than 1 cent in the dollar, while shorter-term 2020-2025 debt dropped between 0.2 and 0.6 cents, Tradeweb prices showed.

The lira was down just over 1.2 percent against the dollar in the currency market. (Reporting by Marc Jones; editing by Helen Reid)

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