Turkey's central bank: Will adjust monetary stance amid risks to price stability

The Turkish central bank (CBRT) pledges to adjust its monetary policy stance after Turkey’s inflation jumped to a 15-year high of 17.9% last month, Reuters reports.

The bank said in its statement: “Recent developments regarding the inflation outlook indicate significant risks to price stability. The central bank will take the necessary actions to support price stability.”

“(The) monetary stance will be adjusted at the September monetary policy committee meeting in view of the latest developments,” the statement added.