ANKARA, July 29 (Xinhua) -- Turkey's Central Bank on Thursday raised its year-end inflation forecast for 2021 to 14.1 percent from 12.2 percent in its previous report.
The bank also increased its inflation forecast for 2022 to 7.8 percent, while maintaining the 2023 forecast at 5 percent.
Turkish Central Bank Governor Sahap Kavcioglu said during the meeting for the release of the third annual inflation report that the inflation may follow a volatile course in the summer months.
"Our monetary policy stance is tight enough to prevent these volatilities being reflected in the main trend," Kavcioglu said, adding the policy stance will continue to be formed around the inflation.
The bank expects inflation to drop significantly in the third and fourth quarters of 2021, Kavcioglu noted.
Turkey's annual inflation rate was 17.53 percent in June. Enditem
