Turkish markets to focus on Central Bank interest rate decision

By Murat Aslan

ISTANBUL (AA) - Turkish markets will focus on Thursday's Central Bank monetary policy meeting at time when rising inflation has triggered sell-off in global stock markets.

Last month, the bank lowered its one-week repo rate -- also known as the policy rate -- by 200 basis points to 16% from 18%.

Global markets will monitor US initial jobless claims due on Thursday.

On Wednesday, inflation in the UK hit a 10-year high in October, reaching 4.2% while rising costs in US real estate data stood out.

This also boost pressure on the stock markets as concerns over developing countries' central banks may change their supportive monetary policy stance sooner than expected.