Turkish Central Bank lowers inflation forecasts

Bank expects Turkey's year-end inflation to reach 14.6 percent in 2019, 8.2 percent next year, 5.4 percent in 2021

By Tuba Sahin

ANKARA (AA) - Turkey's Central Bank on Wednesday revised its inflation forecast for the country's economy downward for 2019 and the next year.

The bank forecasted Turkey's year-end inflation rate this year to drop to 14.6 percent from 15.2 percent in its previous report, Central Bank Governor Murat Cetinkaya said in the first quarterly inflation report of the bank in 2019.

"We projected inflation rate to be 14.6 percent at 2019-end, then to drop to 8.2 percent [compared to 9.3 in the previous report] at the end of 2020 and to be 5.4 percent in 2021.”

According to latest data from the Turkish Statistical Institute, the country's annual inflation reached 20.30 percent in December 2018.

Kaynak: