May 30, 2024 11:05 GMT
TURKEY: CBRT Publish Summary of May MPC Meeting
TURKEY
Highlights from the CBRT's summary of its latest MPC meeting:
- “Leading indicators point to a relatively flat course in the underlying trend of inflation in May”
- “In the energy group, despite the fall in fuel prices in tandem with dropping international crude oil prices, a high monthly increase will be seen in May due to the expiry of the free use of 25 m3 natural gas.”
Familiar comments re. monetary policy:
- “The tight monetary stance will be maintained until a significant and sustained decline in the underlying trend of monthly inflation is observed, and inflation expectations converge to the projected forecast range. Monetary policy stance will be tightened in case a significant and persistent deterioration in inflation is foreseen.”
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