Turkey's Central Bank Expected to Raise Inflation Forecast Amid Global Price Shock

Turkey's central bank may be compelled to revise its inflation forecast due to the global energy price shock triggered by the U.S. and Israel's conflict with Iran. According to Jin10, Turkey's Central Bank Governor Fatih Karahan is set to release the quarterly monetary policy report on Thursday. Analysts widely anticipate an upward adjustment to the year-end inflation target and forecast range, currently set at 16%, with a prediction range of 15% to 21%. Handan Sekercioğlu, Chief Economist at Is Asset Management, noted that despite the central bank's previous stance of not adjusting targets without extreme circumstances, the intensifying global price shock and supply issues are likely to prompt a revision of the year-end inflation target.