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Annual İnflation At 7.24, Cen Bank Drops Early Rate Cut Meeting
Turkey's consumer price index rose by 1.1 percent in January, pulling the annual inflation to 7.24 percent, from 8.17 percent in the same period of last year, according to the data relased by Turkstat, on Tuesday. Central Bank of Turkey Governor Erdem Başçı said on January 27 that if January inflation.
Turkey's consumer price index rose by 1.1 percent in January, pulling the annual inflation to 7.24 percent, from 8.17 percent in the same period of last year, according to the data relased by Turkstat, on Tuesday.
Central Bank of Turkey Governor Erdem Başçı said on January 27 that if January inflation would fall more than a percentage point, the bank could hold an extraordinary meeting as early as next week to discuss cutting rates.
The Monetary Policy Committee would meet and make a decision, depending on the "strength of disinflation we will decide whether to call a meeting or not" Basci told reporters on the sidelines of a conference in Budapest on Monday.
Another statement came from the Central Bank, immediately after the inflation data was released, saying that, "Inflation indicators continue to improve in recent months owing to the implementation of cautious monetary and liquidity policies. The Monetary Policy Committee will assess the inflation outlook in detail at the regular meeting which will be held on the 24th of February." - Istanbul
