Central Bank of Turkey - Inflation Report
Turkish inflation is likely to undershoot the 7.5% inflation target in 2009, notes the Central Bank of Turkey's January Inflation Report.
The report states that there is a 70% probability of annual inflation for 2009 being between 5.4% and 8.2%. The reasons for this are the slowdown of the global economy,the collapse of commodity prices in response the worsening of the global economic outlook and the sharp decline in both domestic and external demand for goods.
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