ANKARA, Aug. 8 (Xinhua) -- Türkiye's central bank on Thursday announced the decision to keep its year-end inflation forecasts for 2024, 2025 and 2026 unchanged, and pledged to maintain the tight monetary policy until achieving price stability.
The bank still expects the inflation rate to fall to 38 percent at the end of 2024, and 14 percent and 9 percent, respectively, for 2025 and 2026, the bank's governor, Fatih Karahan, said at a press conference when presenting the third inflation report of the year.
Official data on Monday showed that the country's annual inflation rate cooled to 61.8 percent in July, marking the second consecutive month of deceleration.
"We expect the narrowing to continue in the third quarter as well," Karahan said.
Meanwhile, due to geopolitical risks, the bank maintains the 2024 forecast range between 34-42 percent, he said. ■
