通胀低于预期，土耳其降息至38%

Group 1 - The Central Bank of Turkey lowered the policy interest rate by 150 basis points from 39.5% to 38% on December 11 [1] - The decline in food prices led to a lower-than-expected inflation rate in November, with a slight decrease in the inflation trend observed in October and November [1] - The Central Bank noted that the GDP growth rate in the third quarter exceeded expectations, indicating sustained demand conditions to support the anti-inflation process [1] Group 2 - The annual inflation rate in Turkey fell from 32.87% in October to 31.07% in November, marking a four-year low and below market expectations [2] - The Central Bank acknowledged improvements in inflation expectations and pricing behavior, but still identified risks to the anti-inflation process [1] - The Central Bank aims to maintain a tight monetary policy stance until price stability is achieved, targeting a mid-term inflation goal of 5% [1]