Turkish central bank ups end-2022 inflation forecast to 42.8%

Turkish central bank ups end-2022 inflation forecast to 42.8%

Turkey’s central bank on Thursday hiked its year-end annual inflation forecast to 42.8%, from 23.2% three months ago, according to a presentation by its governor.

The Central Bank of the Republic of Turkey (CBRT) also sees a mid-point forecast of 12.9% for end-2023, Governor Şahap Kavcıoğlu’s presentation showed.

The bank predicted that inflation - which soared to 61% last month - would fall to single digits in 2024. It targets a range of around 5%, Sabah Daily reported.

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