Home News ​​Central Bank of the Republic of Turkey Projects Single-Digit Inflation This Year

​​Central Bank of the Republic of Turkey Projects Single-Digit Inflation This Year

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​​Central Bank of the Republic of Turkey (CBRT) Governor Naci Ağbal announced on January 28 that the bank kept Turkey’s year-end inflation rate projections constant. 

Underlining that a fluctuation around between 7.3 percent and 11.5 percent is expected through 2021, the Governor said, “An all-inclusive inflation targeting regime will be resolutely implemented within a simple operational framework.”
“The CBRT expects the Turkey’s inflation rate to stand at 9.4 percent at the end of this year, while a 7 percent inflation rate is estimated in 2022,” Ağbal stated at the virtual “Inflation Report 2021-1” meeting.
Predicting stabilization by 2023 with an approximately 5 percent inflation rate, the CBRT is poised to employ all instruments to maintain that target, Ağbal added.

Source: Republic of Turkey Investment Office
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