16:19 - 22.05.2025

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May 22, Fineko/abc.az. The Central Bank of Turkey has left its year-end inflation forecast at 24%.

ABC.AZ informs with reference to Bloomberg that in April, annual inflation in the country was 37.9%. 

The forecast for the end of 2026 also remained unchanged at 12%. Despite the 5% target, market participants expect inflation to reach 30.4% by the end of 2025.

After the political events in March, the Central Bank of Turkey raised its key interest rate from 42.5% to 46%, and the overnight lending rate increased to 49%.
The bank reports that more than $50 billion has been spent to stabilize the lira's exchange rate, and the restoration of foreign exchange reserves is underway.
Tight monetary policy weakened economic growth. Almost half of Turkey's state-owned and exchange-traded companies reported losses in the first quarter.