Turkey Central Bank Hints at Rate Hike

Turkey's central bank said on Monday the monetary policy stance will be adjusted at its September meeting in an attempt to support the lira, after data showed inflation jumped to its highest level since December 2003 amid a currency crisis.
Central Bank of Turkey | Joana Ferreira | joana.ferreira@tradingeconomics.com 9/3/2018 12:13:48 PM
The lira has already fallen some 40 percent against the dollar so far this year, largely due to worries about President Erdogan's influence over the economy, his repeated calls for lower interest rates despite high inflation and worsening rift with the US.

Press Release on Monetary Policy:

Recent developments regarding the inflation outlook indicate significant risks to price stability.

The Central Bank will take the necessary actions to support price stability.

Accordingly, in line with the previous communication, monetary stance will be adjusted at the September Monetary Policy Committee Meeting in view of the latest developments.

The Central Bank will continue to use all available instruments in pursuit of the price stability objective.

Turkey Central Bank Hints at Rate Hike