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MNI BRIEF: CBRT Raises Medium-Term Inflation Forecast

Underlying inflation fall slower than expected despite headline improvements, Governor Karahan says.
Central Bank of Republic of TurkiyeEM Policy NewsTurkeyEM BriefEM Central Bank NewsGlobalStoryRegion

MNI (LONDON) - The Central Bank of the Republic of Turkey raised its year-end inflation forecast for 2024 by 3.9 percentae points to 44% at the same time as it increased the forecast for 2026 by 3.5 points to 21%, against a medium-term target of 5%. Inflation is expected to fall to 12% by the end of 2026, Governor Fatih Karahan said in a speech accompanying the publication Friday of the CBRT’s latest Inflation Report.

“The underlying inflation has been improving, albeit at a slower pace than we had projected,” Karahan said, adding that the increased coordination of monetary and fiscal policies will contribute to the disinflation process. “We will maintain our decisive monetary stance to ensure that disinflation continues." 

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MNI (LONDON) - The Central Bank of the Republic of Turkey raised its year-end inflation forecast for 2024 by 3.9 percentae points to 44% at the same time as it increased the forecast for 2026 by 3.5 points to 21%, against a medium-term target of 5%. Inflation is expected to fall to 12% by the end of 2026, Governor Fatih Karahan said in a speech accompanying the publication Friday of the CBRT’s latest Inflation Report.

“The underlying inflation has been improving, albeit at a slower pace than we had projected,” Karahan said, adding that the increased coordination of monetary and fiscal policies will contribute to the disinflation process. “We will maintain our decisive monetary stance to ensure that disinflation continues." 

Keep reading...Show less