Turkey’s central bank ramps up inflation forecast
The Central Bank of the Republic of Turkey (CBRT) has increased its inflation forecast for 2013, after the year-on-year CPI surprised staff by jumping to 8.3% in June.
The minutes of the bank's latest monetary policy committee (MPC) meeting, published today, show rising inflation expectations led the committee to undertake "measured monetary tightening".
In the latest inflation report, also released today, the central bank said there was a 70% chance of inflation ending the year between 5.2 and
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