Turkish CBRT Policy Announcement (Apr) 37% (exp. 37%, prev. 37%)
Importance
Level 1
Inflation:
- The underlying trend of inflation declined in March.
- Leading indicators suggest a slight increase in the underlying trend in April.
- Amid geopolitical developments and the resulting uncertainties, energy prices remain elevated and exhibit notable volatility.
- While indicators point to a slowdown in economic activity, potential second-round effects of recent developments on the inflation outlook will be of importance.
Policy:
The tight monetary policy stance, which will be maintained until price stability is achieved, will strengthen the disinflation process through demand, exchange rate, and expectation channels.