Turkish Central Bank's year-end inflation target at 31%-33%

ISTANBUL

The Turkish Central Bank forecast that the country’s year-end inflation would be at 31%-33%.

The bank also expects that year-end inflation for 2026 will be 13%-19%, Governor Fatih Karan told a press conference in Istanbul on Friday.

"We will continue to take steps on the policy (interest) rate and their magnitude with a cautious and meeting-based approach focused on the inflation outlook," he said.

He said price stability is a prerequisite for sustainable growth and increased social welfare.

"In the disinflation process, we will continue to do whatever is necessary to bring down inflation in line with our intermediate targets," he added.

Türkiye's annual inflation rate in October was 32.87%, its lowest level in 47 months.

Previously, at its third inflation report meeting of the year, the bank projected that inflation at the end of 2025 would be in the 25%-29% range.