2023-05-04 10:31:00
© Archyde.com. The logo of the Central Bank of Turkey at its headquarters in Ankara, with a photo from the Archyde.com archive.
ANKARA (Archyde.com) – Central Bank Governor Shihab Kavji Oglu said on Thursday that inflation in his country was declining at a slower rate than the bank had expected, despite signs showing a marked slowdown in price rises.
In the second inflation statement this year, Kavcioglu said that cost pressures on inflation have been removed to a large extent.
He added that the Turkish Central Bank maintained its inflation forecast at 22.3 percent for the year 2023, adding that the stability of credit conditions and the foreign exchange rate would allow an improvement in inflation.
In his remarks made in Ankara, he added that the central bank also kept its annual inflation forecast for 2024 unchanged at 8.8 percent.
(Prepared by Doaa Muhammad for the Arabic Bulletin)
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