CBRT raises its 2026 year-end inflation interim target to 24% (prev. 16%), end-2027 to 15% (prev. 9%), end-2028 to 9% (prev. 8%)

The CBRT's upward revision of inflation targets reflects growing inflationary pressures and suggests a more challenging macroeconomic outlook. This hawkish stance could imply a tighter monetary policy going forward, impacting rate expectations and potentially strengthening the lira. Markets will likely react to the increased uncertainty around Turkey's economic trajectory and the central bank's willingness to combat inflation.