Turkey Abandons Inflation Target Amid Energy Price Shock Turkey's decision to abandon its inflation target has sent shockwaves through global markets, highlighting the country's struggle with double digit inflation.
The central bank faces a perfect storm of high energy prices and stubbornly high inflation rates, forcing it to reassess its monetary policy.
Understanding Turkey's Dilemma with Inflation and Energy Prices Turkey's inflation rate has hovered around 50% year over year for several years, driven by a sharp decline in investor confidence.