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4.2 Inflation
Central Bank governor Murat Uysal forecast that price growth will start slowing from the second quarter and fall to single digits from the second half. But it was still expected to remain elevated in Q1 at around 11.5%, he added.
In the January quarterly inflation report, the end-of-2020 inflation projection given by the central bank remained unchanged at 8.2%.
Turkish Treasury and Finance Minister Berat Albayrak said that it’s the nominal interest rate that “matters more”. He has indicated that the Turkish lira should be at a more advantageous level.
Albayrak said on January 23 that the Turkish central bank is as independent as the US Federal Reserve .
4.2.1 CPI dynamics
The government paused an automatic tax hike on alcohol and tobacco prices for the first half of 2020.
21 TURKEY Country Report OUTLOOK 2020 www.intellinews.com