Economy

Turkish Central Bank may raise inflation target

Bank's current year-end inflation target is 7.4%

Murat Aslan   | 24.07.2020
Turkish Central Bank may raise inflation target

ISTANBUL 

Some economists expect that in its third inflation report next week, Turkey's Central Bank will increase its year-end inflation target.

The bank will hold a meeting to present the report on Wednesday, July 29. In its previous report this April, its year-end inflation expectation was 7.4%.

The annual inflation rate in June was 12.6% and 12-month rolling rate was 11.88%, according to official figures.

Ozlem Bayraktar Goksen, chief economist at Tacirler Investment, said the Central Bank may revise its year-end inflation target next week.

Growing demand for food due to the coronavirus pandemic and the weaker Turkish lira caused a strong rise in food prices, she underlined.

Orkun Godek, DenizBank Investment Group strategist, said the bank may increase its year-end inflation target by 100-150 basis points.

Omer Emec, the chief economist at participation lender Albaraka Turk, said year-end inflation may reach 9.1%.

He also said Central Bank measures may protect the disinflation process.

*Writing by Gokhan Ergocun

Anadolu Agency website contains only a portion of the news stories offered to subscribers in the AA News Broadcasting System (HAS), and in summarized form. Please contact us for subscription options.
Related topics
Bu haberi paylaşın