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Turkish cenbank revises down oil price assumptions to $55 from $57
April 28, 2017 / 8:10 AM / 8 months ago

Turkish cenbank revises down oil price assumptions to $55 from $57

ISTANBUL, April 28 (Reuters) - Turkey’s central bank has revised down assumptions for crude oil prices to $55 from $57 but is maintaining its annual food inflation forecast for 2017 at 9 percent, Central Bank Governor Murat Cetinkaya said on Friday.

Food inflation will fall to 7 percent in 2018, he said.

Speaking at a quarterly presentation, Cetinkaya said the bank would not give early reaction to changes in inflation. He described current monetary policy as tight, and said it would be tightened further if necessary.

The bank was maintaining its policy simplification target, Cetinkaya said. (Reporting by Ece Toksabay and David Dolan; Writing by Dominic Evans; Editing by Nick Tattersall)

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