ECONOMY

Turkish cenbanker says inflation may exceed expectations this month and next, sources say

turkish-cenbanker-says-inflation-may-exceed-expectations-this-month-and-next-sources-say

Turkish Central Bank Governor Sahap Kavcioglu said on Friday inflation could rise higher than expected this month and next, but that monthly moves do not affect its year-end forecast, according to two sources who participated in an investors meeting.

Kavcioglu said the bank was sticking to the inflation path outlined in its April inflation report, in which it forecast that inflation would fall to 12.2% by year-end, the sources said.

Kavcioglu also said the bank could reach a swap deal with other central banks and was close to a deal with some, the sources said.

[Reuters]