“Turkey’s central bank says inflation is set to hit 58% — more than double its previous estimate”
July 27, 2023
“Turkey’s central bank expects inflation to hit 58% by the end of 2023, its new governor Hafize Gaye Erkan said in her debut news conference Thursday, as she committed to “restore anchoring of expectations as well as predictability.”
The new forecast is more than double the 22.3% outlined in the central bank’s last inflation report three months ago…
The central bank also revised its forecast for the end of 2024 to 33%, and its forecast for the end of the following year to 15%. “Through decisions on quantitative tightening, we will ensure a stable development in the Turkish lira liquidity without generating excessiveness in exchange rates and domestic demand,” Erkan said…”