Turkey's central bank raises inflation forecasts for 2024

By MG News | May 09, 2024 at 03:04 PM GMT+05:00

0:00

May 09, 2024 (MLN): Turkey's Central Bank on Thursday raised its year-end inflation forecast for 2024 while kept it unchanged for 2025 and 2026, as APP reported.

Annual consumer inflation is expected to reach 38% this year, up 2 percentage points from the previous forecast, Governor Fatih Karahan told a meeting held to release the bank’s second inflation report of this year.

The year-end inflation forecast for 2025 and 2026 were kept at 14% and 9%, respectively, he stressed, adding that inflation is targeted to stabilize at 5% in the medium term.

Karahan stressed that the bank is determined to maintain its tight monetary policy stance until inflation falls to its target.

"We will definitely not allow a permanent deterioration in the inflation outlook," he underlined.

According to the latest data from TurkStat, Turkey's annual inflation rate rose to 69.8% in April from 68.5% in March.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	122,761.64 221.15M	0.42% 515.00
ALLSHR	76,639.56 738.59M	0.55% 415.67
KSE30	37,384.76 83.00M	0.27% 100.90
KMI30	182,010.54 133.65M	0.09% 156.82
KMIALLSHR	52,673.75 393.22M	0.41% 217.37
BKTi	31,224.18 21.69M	0.75% 231.73
OGTi	27,512.98 12.61M	-0.29% -80.05

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	107,930.00	108,370.00 107,205.00	90.00 0.08%
BRENT CRUDE	67.90	68.11 67.63	0.22 0.33%
RICHARDS BAY COAL MONTHLY	88.00	0.00 0.00	-2.60 -2.87%
ROTTERDAM COAL MONTHLY	103.45	0.00 0.00	-0.05 -0.05%
USD RBD PALM OLEIN	998.50	998.50 998.50	0.00 0.00%
CRUDE OIL - WTI	65.13	65.38 64.89	0.21 0.32%
SUGAR #11 WORLD	16.62	16.65 16.31	0.26 1.59%