Turkey central bank chief vows to lower inflation

Turkey’s central bank is determined to combat soaring prices and will stick patiently to its tight policy stance, Governor Fatih Karahan told Reuters, as a series of aggressive rate hikes start to bring down sky-high inflation.

“We will maintain tightness and wait for data and expectations to get in line with our disinflation path. We think we still have some way to go in this regard,” Karahan said in an interview this week.

“We want to see a significant and sustained fall in the underlying trend of monthly inflation.