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Central Bank Governor Fatih Karahan announced in the presentation of the second Inflation Report of 2024 that the year-end inflation forecast had been raised to 38 percent. In the previous report, the year-end inflation forecast for 2024 was at 36 percent. There were no changes made to the year-end inflation forecasts for 2025 and 2026.
Here are some highlights from Governor Karahan’s speech:
“The primary objective of our Central Bank is to ensure and maintain price stability. We closely monitor pricing behaviors and inflation expectations.
We are determined to maintain our tight monetary policy stance until inflation returns to levels consistent with our targets. We will not allow a persistent deterioration in inflation expectations.
