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Türkiye's Central Bank keeps inflation projection for 2024, 2025, 2026 unchanged
(MENAFN) Türkiye's Central Bank announced on Thursday that it has kept its year-end inflation forecasts for 2024, 2025, and 2026 unchanged. During a meeting to present the bank's third inflation report of the year, Governor Fatih Karahan revealed that the annual consumer inflation rate is expected to reach 38 percent by the end of 2024.
The Central Bank also maintained its year-end inflation forecasts for the following years, projecting inflation at 14 percent for 2025 and 9 percent for 2026. Karahan emphasized that the long-term goal remains to stabilize inflation at 5 percent in the medium term, indicating the bank's commitment to controlling inflationary pressures over time.
Governor Karahan explained that as the end of the year approaches, the forecast range for 2024 should have become more precise. However, due to heightened uncertainties arising from recent geopolitical developments and global financial market volatility, the bank decided to keep its forecast range for 2024 between 34 percent and 42 percent.
Karahan also noted that with annual inflation peaking in May, Türkiye has entered a disinflationary phase. He expressed confidence that inflation would decline significantly during the third quarter of the year, signaling a positive trend in the country's efforts to reduce inflationary pressures.
The Central Bank also maintained its year-end inflation forecasts for the following years, projecting inflation at 14 percent for 2025 and 9 percent for 2026. Karahan emphasized that the long-term goal remains to stabilize inflation at 5 percent in the medium term, indicating the bank's commitment to controlling inflationary pressures over time.
Governor Karahan explained that as the end of the year approaches, the forecast range for 2024 should have become more precise. However, due to heightened uncertainties arising from recent geopolitical developments and global financial market volatility, the bank decided to keep its forecast range for 2024 between 34 percent and 42 percent.
Karahan also noted that with annual inflation peaking in May, Türkiye has entered a disinflationary phase. He expressed confidence that inflation would decline significantly during the third quarter of the year, signaling a positive trend in the country's efforts to reduce inflationary pressures.
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