Turkey Hawkish on Inflation
Posted by admin on January 31, 2012 in Latest Turkey News |
BY JOE PARKINSON AND YELIZ CANDEMIR
ISTANBUL—Turkey’s central bank issued a hawkish inflation report Tuesday, revising its price forecasts sharply higher and stressing that policy should remain tight to counter price pressures and external risks.
The report, delivered by Governor Erdem Basci in Ankara, sent the lira more than 0.5% higher against the dollar, continuing a recent winning streak for the currency which has seen it strengthen some 5% since the beginning of 2012.
The currency gain reflects a significant upgrade in the bank’s main forecast for prices this year and next. For 2012, the …