October 31, 2018 / 11:21 AM / 21 days ago

Turkish monetary policy will be more sensitive to incoming data - central bank minutes

ANKARA, Oct 31 (Reuters) - Turkey’s central bank would be more sensitive to incoming data in the short run and its policy stance would be revised upon detection of changes in the inflation outlook, according to the minutes of last week’s policy meeting, released on Wednesday.

The bank also said that leading indicators for October pointed out that food inflation was yet to increase, according to the minutes of last week’s meeting, where the bank kept rates on hold.

On Wednesday the bank sharply raised its inflation forecasts for this year and next, predicting a rate of 23.5 percent by the end of 2018 and acknowledging the deep impact of a lira selloff that has shaken confidence in the economy.

Reporting by Ece Toksabay and Ezgi Erkoyun; Editing by David Dolan

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