Turkish central bank updates inflation forecast range, vows tight stance

Turkish central bank updated year-end inflation forecast to 15%-21% range, while keeping interim target at the same level of 16%, its governor announced on Thursday.

Central Bank of the Republic of Türkiye (CBRT) Governor Fatih Karahan said on Thursday that developments show that the bank has to maintain a tight stance and that the bank was ready to use all policy tools for disinflation.

Presenting the central bank’s quarterly inflation report in Istanbul, Karahan said food prices drove inflation in January and the impact of food prices on inflation will continue in February.

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