Central Bank of Turkey has increased the inflation expectation for 2018 yesterday. Murat Çetinkaya, President of the Central Bank of the Republic of Turkey (CBRT), held the first inflation report meeting of 2017. Çetinkaya pointed out that the domestic demand is relatively weak and emphasized that the institution could make additional monetary tightening if needed. The report also revised the inflation forecast upward. While the estimate for the year ending 2017 is reduced to 8.0 % from 6.5 %, the forecast for 2018 is raised to 6.0 %.

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