"Depreciation could raise Turkish inflation
By Delphine Strauss in Istanbul
Published: November 1 2008 02:02 | Last updated: November 1 2008 02:02
Depreciation in the lira is hampering Turkey’s efforts to bring inflation back into single digits, putting the central bank in an uncomfortable position as the country considers whether to agree a new deal with the International Monetary Fund.
The central bank on Friday raised its forecast for inflation at the end of 2008 by 0.5 percentage points to 11.1 per cent, saying changes in the exchange rate would add 1.2 percentage points to inflation in 2008 and 1.5 percentage points in 2009."
More:FT.com / World - Depreciation could raise Turkish inflation
