Turkish Central Bank May Raise Inflation Target
Faizan Hashmi Published July 24, 2020 | 07:20 PM
Some economists expect that in its third inflation report next week, Turkey's Central Bank will increase its year-end inflation target
ISTANBUL, (APP - UrduPoint / Pakistan Point News - 24th Jul, 2020 ):Some economists expect that in its third inflation report next week, Turkey's Central Bank will increase its year-end inflation target.
The bank will hold a meeting to present the report on Wednesday, July 29. In its previous report this April, its year-end inflation expectation was 7.4%.
The annual inflation rate in June was 12.6% and 12-month rolling rate was 11.88%, according to official figures.
Ozlem Bayraktar Goksen, chief economist at Tacirler Investment, said the Central Bank may revise its year-end inflation target next week.
Growing demand for food due to the corona-virus pandemic and the weaker Turkish lira caused a strong rise in food prices, she underlined.
Orkun Godek, DenizBank Investment Group strategist, said the bank may increase its year-end inflation target by 100-150 basis points.
Omer Emec, the chief economist at participation lender Albaraka Turk, said year-end inflation may reach 9.1%. He also said Central Bank measures may protect the disinflation process.
Recent Stories
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 26 April 2024
Today Gold Rate in Pakistan 26 April 2024
ICC Womens T20 World Cup Qualifier, Match 2: Ireland Women open with Comfortable ..
Robinson, bowlers help New Zealand go 2-1 up against Pakistan
Shahzeb Chachar to hold khuli kachehri on April 26
Heatwave amid Israel's aggression in Gaza brings new misery, disease risk
Tourism must change, mayor says as Venice launches entry fee
Court adjourns Judicial Complex attack case till May 17
Nasreen Noori’s book ‘Popatan Jahra Khwab’ launched
Wafaqi Mohtasib inspection team visits Excise and taxation office
AJLAC announces 5th Conference titled ‘People’s Mandate: Safeguarding Civil ..
Pak-US officials engage to enhance trade, investment ties
More Stories From World
-
Microsoft, Google earnings shine as AI drives revenue
9 minutes ago -
Man City crush Brighton to close gap on Arsenal in title race
10 minutes ago -
Atletico face Bilbao challenge in Champions League race
19 minutes ago -
Man City in title groove as Arsenal face Spurs test
20 minutes ago -
Japan anime studio draws on talent of autistic artists
39 minutes ago -
Pakistan needs strong defence in view of its location in 'rough' neighbourhood: Masood Khan
40 minutes ago
-
Bangladesh children sweat at home as heatwave shuts schools
49 minutes ago -
Iconic shared Olympic gold moment will not be repeated, says Barshim
50 minutes ago -
Bangladesh children sweat at home as heatwave shuts schools
1 hour ago -
Pakistani 'Blue Helmets' serving UN Peacekeeping Mission in DR Congo set to leave after 20 years of ..
2 hours ago -
Golf: PGA Zurich Classic of New Orleans scores
2 hours ago -
Slot 'confident' of Liverpool job as 'negotiations' take place
8 hours ago