Turkey’s Central Bank vows for action following inflation surge

Turkey’s central bank indicated on 4 September that it would adjust its monetary policy according to the “significant risks” with respect to price stability,  in a move to calm financial markets after inflation surged to its highest level in nearly a decade.

The Turkish lira lost 40 percent of its value against the dollar this year, sparking high levels of inflation in the last month.

Inflation increased to 17.9 percent year-on-year in August, official data showed, which represents its highest level since late 2003.

More: Turkey’s central bank promises action after inflation surges to 18 percent



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