Turkey’s CB predicts 2015 inflation to reach lowest level in 45 years
Baku, Azerbaijan, Jan. 28
By Rufiz Hafizoglu - Trend:
The Central Bank of Turkey predicts inflation will reach its lowest level in the past 45 years, the head of the Central Bank of Turkey Erdem Basci was quoted Jan. 27 by the Turkish newspaper Hurriyet as saying.
He said that the consumer price index is expected to be 5.2 percent in 2015 and five percent in 2016.
"The Central Bank will do everything possible to keep inflation under control," he said.
The inflation rate was 8.31 percent in 2014.
The Central Bank conducted a two billion dollar intervention in 2014 to keep the Turkish lira rate at a stable level. But this attempt was not successful.
According to the Central Bank of Turkey, the official exchange rate on January 27 was 2,3639 TRY / USD. The Turkish lira appreciation continued until September [by 9.4 percent] in 2014.
The national currency rate decreased in the following months (the dollar rate increased by 7.4 percent by the end of the year).
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Edited by CN