.
.
.
.

Turkey’s central bank says expects disinflation process to start

Published: Updated:

Turkey’s central bank said on Thursday it expects a disinflation process to start on the back of strengthened measures for sustainable price and financial stability along with the resolution of the ongoing regional conflict.

Following its monthly monetary policy committee meeting, where it kept its policy rate on hold at 14 percent, the bank said it will decisively continue to implement the strengthened macroprudential policy set by taking additional measures.

For the latest headlines, follow our Google News channel online or via the app.

“The increase in inflation is driven by rising energy costs resulting from geopolitical developments and temporary effects of pricing formations that are not supported by economic fundamentals,” the bank said in a statement.

In April, Turkey’s annual inflation jumped to a two-decade high of 69.97 percent, fueled by a crash in the lira last year due to a series of unorthodox rate cuts, and by soaring commodity prices due to Russia’s invasion of Ukraine.

Read more:

Turkey’s lira falls beyond 16.3 vs dollar as FX need grows

Turkey passes law exempting converted lira deposits from corporate tax

Turkish soldier killed in northern Iraq during military operation

Top Content Trending