Turkish Central Bank Estimates Year-end Inflation Rate At 9.3 Percent

ANKARA - Turkey`s Central Bank chief head said Wednesday that year-end inflation rate for 2008 was expected to stand at 9.3 percent.
Central Bank Governor Durmus Yilmaz said year-end inflation rate for 2009 would be somewhere in between 4.9 percent and 8.5 percent with a medium of 6.7 on a 70 percent probability.
Yilmaz said the bank expected that the inflation would drop to 4.9 percent in 2010 and to 4.0 percent in 2011.
The governor also said it would take more than two years to get close to a targeted 4 percent in the medium term, however added that this would not mean the bank would pursue a loose policy.
(YMB-AÖ)