Inflation Report: Hawkish rhetoric continues

TURKEY - Report 28 Jan 2021 by Murat Ucer

The CBRT has released the first Inflation Report of the year, according to which the Bank, as broadly expected, kept the end-2021 and 2022 inflation forecasts unchanged at 9.4% (midpoint of 7.3%-11.5%) and at 7% (midpoint of 4.6%-9.4%), respectively. Inflation is expected to ease to the official target of 5% in 2023.

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