Nominal income target

Türkiye's Central Bank has kept its inflation projections for end-2023 and end-2024 unchanged at 22.3 percent and 8.8 percent, respectively.

Turkey's new Central Bank governor took a cautious stance on the outlook for inflation on April 26, saying price stability would be his priority, and signaling his ambition for simpler and more transparent policy.

The head of Turkey's top business organization has said the continuing rising trend in the inflation rate was not good for the country, while business representatives were "failing to understand" the Central Bank's policies in maintaining the price index. 

The Turkish Central Bank has increased its inflation forecast rate by one point from 6.5 to 7.5 for 2016, having kept its "5 percent target" for the following three years. 

Central Bank Governor Erdem Ba?ç? will explain why the bank's 2015 inflation rate was 8.81 percent instead of its target rate of 5 percent in a letter to Deputy Prime Minister Mehmet ?im?ek.  

This is the fifth time the bank was unable to achieve its target inflation rate under Ba?ç?. 

An expected rate hike by the U.S. Federal Reserve Bank is creating an uncertain environment for foreign capital flows to Turkey that could ultimately hurt the housing industry, but domestic and overseas demand is rebounding, according to a Standard and Poor's (S&P) report.