Turkey says inflation will be double target

Turkey’s central bank said on the 30 April 2008 that inflation in 2008 would be nearly double its official target in the face of rising energy and food prices, and warned of higher interest rates.

Central Bank of the Republic of Turkey: Press Release, 30.4.08: Summary of the Monetary Policy Committee Meeting http://www.tcmb.gov.tr/yeni/announce/2008/ANO2008-11.pdf

Central Bank of the Republic of Turkey: Open Letter Written to the Government Pursuant to Article 42 of the Central Bank Law, 30 April 2008 http://www.tcmb.gov.tr/yeni/announce/2008/ANO2008-10.pdf

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