OECD Raises Turkey Inflation Forecast and Cuts Growth Outlook
The OECD expects Turkish inflation to remain higher than previously forecast while weaker demand and costly imports weigh on economic growth.
The OECD expects Turkish inflation to remain higher than previously forecast while weaker demand and costly imports weigh on economic growth.
The European Commission’s September estimate shows household sentiment weakening after four months of recovery.
Japan’s central bank has increased its policy rate to 1.25 percent as officials seek to restrain inflation and continue monetary normalization.
ECB policymaker Martins Kazaks says persistent inflation and rising energy costs may require interest rates to move further into restrictive territory.
Markets widely expect the US Federal Reserve to raise interest rates as persistent inflation and sharply higher oil prices complicate its policy outlook.
Turkey’s central bank raised its benchmark interest rate by 475 basis points to 15 percent in a major shift intended to support the lira and contain inflation.
Former finance minister Naci Ağbal was appointed central-bank governor after a period of currency weakness and depleted reserves.