Turkish central bank raises inflation forecast
Monetary policy committee increased lending rate earlier this week
Turkey’s central bank has raised its forecast for inflation this year, in an inflation report released two days after raising its lending rate by 50 basis points to 12.25%.
It expects inflation to end the year at 8.5%, higher than the 8% forecast in January. There is a 70% probability it will fall between 7.3% and 9.7%, the central bank said. Inflation is then expected to fall to 6.4% at the end of 2018.
On April 26, the monetary policy committee elected to raise the lending rate in the
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