Analysis-After March vote, Turks to feel brunt of Erdogan’s inflation fight

Turkey is expected to take more policy steps to cool stubbornly high inflation after this month’s local elections, setting the stage for more pain for Turks already struggling after years of soaring prices, according to data and some economists. Households and investors appear sceptical over whether the central bank’s dramatic U-turn towards massive interest rate hikes – to 45% now from 8.5% last June – is sufficient on its own to rein in inflation that topped 67% last month. Finance Minister Mehmet Simsek and other authorities have urged patience, saying the more orthodox set of policies adopted last year would bring price relief later this year.