Turkey Scraps Inflation Target in Face of Energy Price Shock The Turkish central bank's decision to abandon its inflation target has sent shockwaves through global financial markets.
The move comes as the country grapples with a severe energy price shock, triggered by a combination of external factors such as the war in Ukraine and rising global demand, as well as domestic policy choices.
Understanding the Impact of Energy Price Shock on Turkey's Economy The current energy price shock in Turkey is largely driven by external factors. However, domestic policies have also contributed to the situation.