July 31, 2018 / 11:14 AM / 4 months ago

Turkey central bank sees risks to medium-term inflation on upside -minutes

ANKARA, July 31 (Reuters) - The risks to Turkey’s medium-term inflation outlook are mostly on the upside, the central bank’s monetary policy committee said in the minutes to last week’s policy-setting meeting, which were released on Tuesday.

The bank surprised markets when it kept interest rates on hold at the meeting, even after inflation spiked to its highest in 14 years in June. Earlier on Tuesday, the bank sharply raised its inflation forecast for this year and next. (Reporting by Ece Toksabay and Tuvan Gumrukcu; Writing by David Dolan)

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