Turkey to keep policy tight until 5pc inflation target hit

ISTANBUL: Turkey's central bank will maintain a tight monetary policy until it reaches its 5% inflation target, the bank's governor Naci Agbal said on Thursday.

Speaking at an online presentation of the bank's quarterly inflation report, Agbal also said it was too early to ease policy. Annual inflation rose in December to 14.6%, but Agbal stood by the bank's forecast that it would fall to 9.4% this year.