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Turkey Hikes End-2026 Official Inflation Forecast to 28%
Governor Fatih Karahan said geopolitical uncertainty and higher energy costs pushed the forecast up as July inflation eased to 31.8%, the bank said.
- On Thursday in Istanbul, Turkey Central Bank Governor Fatih Karahan unveiled a revised year-end inflation projection of 28%, up from the previous call of 26%.
- Karahan cited geopolitical uncertainty from the Iran war and volatility in oil, gas, and food prices as drivers pushing the monetary authority's forecast upward.
- Markets previously forecast 29% inflation, while Karahan admitted to a "partial failure" regarding targets as baseline price increases cooled modestly to 31.8% in July.
- The monetary authority will continue funding at its 40% overnight rate given ongoing uncertainty while maintaining the suspension of lending from its main 37% repo policy rate.
- Policymakers presented a 2027 year-end inflation target of 15%, which Karahan said officials will reassess later this year based on evolving market conditions.
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13 Articles
13 Articles
Turkish Central Bank (TCMB) Governor Fatih Karahan is announcing the third Inflation Report of the year. Following a significant upward revision of inflation forecasts in the second report, the Bank's medium-term forecast path to be presented in this new report is being closely watched by the markets.
·Istanbul, Türkiye
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Breaking news... The Central Bank has released its third inflation report of the year. The Central Bank raised its year-end inflation forecast by 2 percentage points to 28 percent.
·Türkiye
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Total News Sources13
Leaning Left2Leaning Right2Center2Last UpdatedBias Distribution34% Left, 33% Center, 33% Right
Bias Distribution
- 34% of the sources lean Left, 33% of the sources are Center, 33% of the sources lean Right
34% Left
L 34%
C 33%
R 33%
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