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The head of the Central Bank of Turkey has updated the inflation forecast for 2023-2024
The head of the Central Bank of Turkey has updated the inflation forecast for 2023-2024
November 3, 2023
According to the statement of Mrs. Hafize Gaye Erkan inflation at the end of 2023 will be 65% instead of the projected 58%. The forecast for 2024 is 36% instead of the planned 33% and for 2025 is 14% instead of 15%. Also, the head of the Central Bank said that inflation will peak in May 2024, after which the disinflation process will begin. "We will continue to tighten monetary policy until there is a significant reduction in inflation," Hafize Erkan added.
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