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While Central Bank Governor Kavcıoğlu, in a press briefing on January 27, announced the 2022 year-end inflation forecast as 23.2 percent, Minister of Treasury and Finance Nebati said a day before: “Inflation will be around 40 percent for some time.”

Turkey’s Central Bank Governor Kavcıoğlu has said that the bank will continue to set the policy rate at a level above inflation, preserving the strong disinflationary effect, until there are strong indicators that point to a permanent fall in inflation.