Turkish central bank more than doubles inflation forecast to 58 pct for 2023

ANKARA, July 28: Türkiye's central bank revised its year-end inflation forecast to 58 percent, its governor said on Thursday. The bank's previous forecast in May was 22.3 percent.

The bank's new governor Hafize Gaye Erkan explained that the inflation will temporarily increase due to exchange rate and financial measures, and her bank would continue the monetary tightening process until "a significant improvement in inflation is achieved."