Turkish inflation forecast revised upward to 12.2%
![Turkish inflation forecast revised upward to 12.2%](https://www.ekathimerini.com/wp-content/uploads/2021/04/tcmb1.jpg)
Turkey’s central bank raised its year-end inflation forecast on Thursday to 12.2% from 9.4%, in part due to pressure from lira depreciation, and its new governor said tight policy would be maintained until price pressures decline.
Presenting a quarterly inflation report for the first time since he was appointed last month, Governor Sahap Kavcioglu said the policy rate, now at 19%, would be set above inflation, which topped 16% last month and is expected to head a bit higher. [Reuters]