Market News
Turkish central bank says rate cuts 'not on autopilot', lifts inflation forecast - REUTERS
By Ezgi Erkoyun and Jonathan Spicer
Summary
- Karahan says decisions to be prudent on meeting-by-meeting basis
- Central bank keeps its end-2026 inflation forecast at 12%
- It has cut its policy rate by 500 basis points since December
- Monthly inflation was a higher-than-expected 5% in January
ISTANBUL, Feb 7 (Reuters) - Turkey's central bank governor Fatih Karahan said on Friday the bank is "not on autopilot" after two straight interest rate cuts and its decisions are based on data, in comments after the bank raised its year-end inflation forecast to 24% from 21%.
"We can pause or change the size of policy rate moves," Karahan told a news conference as the bank presented its quarterly inflation report in Istanbul. "Rate cuts are made in line with data."
