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FinancialNews


  • 03-02-21

    Central Bank of Turkey submits open letter to government

    (MENAFN)The Central Bank of Turkey (CBRT) proposed an open letter to the government showing why yearly inflation was higher than the country's target average the previous year.

    Turkey's annual inflation volume stood at 14.6 percent in December the previous year, remaining outside the doubt band about 5 percent target.

    According to the bank, liquidity measures made to control the unpleasant income of the novel Coronavirus pandemic, in addition to credit growth, were amid the main culprits.

    As the demand was high in sectors, the Inflation pressures improved, it explained, with the speedy economic recovery brought about by credit expansion causing an "adverse loop" affecting reserves, the risk premium, dollarization, and inflation expectations.

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