November 1, 2017 / 8:07 AM / a year ago

Turkish central bank aims to bring inflation down to 7 pct by end-2018

ISTANBUL, Nov 1 (Reuters) - Turkey’s central bank aims to bring inflation down to 7 percent by the end of 2018 and gradually to 5 percent after that, it said in a quarterly inflation report on Wednesday.

It said recent data indicated strong economic activity, but current elevated levels of inflation and the core inflation outlook continue to pose risks on pricing behaviour.

The bank said its tight monetary policy stance would be maintained decisively until the outlook displays significant improvement and becomes consistent with targets. If necessary, further monetary tightening will be delivered, it said. (Reporting Ece Toksabay and David Dolan; Writing by Dominic Evans; Editing by Daren Butler)

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