1/29/2021

CBRT Projects Single-Digit Inflation This Year

​​Central Bank of the Republic of Turkey (CBRT) Governor Naci Ağbal announced on January 28 that the bank kept Turkey’s year-end inflation rate projections constant. 

Underlining that a fluctuation around between 7.3 percent and 11.5 percent is expected through 2021, the Governor said, “An all-inclusive inflation targeting regime will be resolutely implemented within a simple operational framework.”

“CBRT expects ​Turkey’s inflation rate to stand at 9.4 percent at the end of this year, while a 7 percent inflation rate is estimated in 2022,” Ağbal stated at the virtual “Inflation Report 2021-1” meeting. 

Predicting stabilization by 2023 with an approximately 5 percent inflation rate, the CBRT is poised to employ all instruments to maintain that target, Ağbal added. ​
Naci Ağbal; CBRT; Central Bank of Turkey; inflation rate