Turkey’s Central Bank Chief Says Inflation to Decline Gradually By Bloomberg


© Bloomberg. Crowds of people move past store fronts at the Eminonu market in Istanbul, Turkey, on Friday, Aug. 17, 2018. Turkish President Recep Tayyip Erdogan argued citizens should buy gold, then he said sell. Add dramatic swings in the lira, and the country’s traders are now enthusiastically doing both.

(Bloomberg) — Go inside the global economy with Stephanie Flanders in her new podcast, Stephanomics. Subscribe via Pocket Cast or iTunes.

Turkey’s Central Bank Governor Murat Cetinkaya expects price growth to gradually decelerate as core inflation measures are already showing a slowdown, according to his presentation at the International Monetary Fund meeting in Washington that was published by the central bank.

The country’s current-account balance is expected to maintain its improving trend, Cetinkaya said. Developments with domestic demand and the bank’s tight monetary policy have led to some improvement in inflation indicators and the central bank will continue to use all available instruments to achieve price stability, according to the governor.

Turkish consumer prices rose 19.7 percent from a year earlier in March, with the core measure that strips out the impact of volatile items such as gold, food and energy dropping to 17.5 percent. The IMF’s latest World Economic Outlook sees average consumer price growth slowing to 17.5 percent in 2019 and to 14.1 percent next year.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.