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CBRT Anticipate Monthly Inflation to Rise in January

TURKEY

Highlights from the CBRT's summary of its December meeting:

  • Leading indicators suggest that the underlying trend of inflation has maintained the November levels.
  • Monthly inflation will rise in January due to wage adjustments, particularly the minimum wage, and items with a high tendency for time-dependent price setting. This rise in monthly inflation, which is also reflected in the Inflation Report forecasts, is expected to slow down in February and beyond.
  • Recently, there has been excess liquidity in the market driven by the components affecting liquidity, particularly the ongoing increase in international reserves. In addition to policy rate decisions, the Committee will continue to implement quantitative tightening by extending the sterilization tools at its disposal in order to support the monetary tightening process.

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