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Tuesday, October 26, 2010

Turkey: Yilmaz is not panicking

"Turkey: Yilmaz is not panicking

Tue, Oct 26 2010, 16:17 GMT
by Lars Christensen

Details and outlook
The Turkish Central Bank came out today with its quarterly inflation report, which saw no change in the bank’s year-end inflation estimates for 2010 at 7.5%. While food prices are seen to rise with the rest of the world, this impact is believed to be mitigated by lower-thanexpected non-food inflation, effectively taking the food price appreciation out of the immediate monetary policy decision, as we had also alluded to in our earlier research (read more here). The minor changes came in the forecasts for 2011 and 2012, both of which were raised by 10 basis points to 5.4% and 5.1%, respectively."

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