Cryptocurrency

Bank AI

<p style="text-align: justify">The President of the Central Bank of the Republic of Turkey (CBRT), Hafize Gaye Erkan, has announced the year-end inflation report. Erkan stated that they are fighting against inflation in a stable manner and mentioned that they are working together with the Capital Markets Board (SPK) on cryptocurrency regulation.</p> 
<h2 style="text-align: justify" id="strong-cbrt-raises-year-end-inflation-forecast-to-65-strong"><strong>CBRT Raises Year-End Inflation Forecast to 65%</strong></h2> 
<p style="text-align: justify">Erkan, the President of CBRT, announced the year-end inflation report. According to the report, CBRT’s year-end <strong>inflation</strong> forecast has been raised from 58% to 65%. The year-end inflation forecast for 2024, which was 33%, has been updated to 36%, and the year-end inflation forecast for 2022, which was 15%, has been updated to 14%. Erkan said, “Controlling high and volatile inflation will be a long and challenging process.”</p> 
<p style="text-align: justify"><img decoding="async" class="aligncenter size-full wp-image-272717" src="https://coin-turk.com/wp-content/uploads/2023/11/TCMB-Hafize-Gaye-Erkan-Kripto-Para.jpeg" alt="" width="1200" height="675"></p> 
<p style="text-align: justify">The President of CBRT stated that inflation will peak at around 70-75% in May 2024, and then the process of disinflation will begin. Erkan said that they expect a rapid decline from the peak with the cumulative effect of the steps taken after May, while also emphasizing that monetary tightening will continue until a significant improvement is achieved in the inflation outlook. Erkan used the expression “We will mostly see the effects in 2024.”</p> 
<h2 style="text-align: justify" id="strong-we-are-working-with-spk-on-cryptocurrency-regulation-strong"><strong>“We are Working with SPK on Cryptocurrency Regulation”</strong></h2> 
<p style="text-align: justify">In response to a question about cryptocurrency regulation, TCMB President Erkan highlighted that the work in this field is ongoing. Erkan said, “We are working with the Capital Markets Board (SPK) on cryptocurrency regulation. The work is ongoing.”</p> 
<p style="text-align: justify">It is known that various institutions, including TCMB, have been conducting various studies on cryptocurrency regulation for a long time. Experts believe that the first concrete developments in these studies will begin to be seen in 2024.</p> Continue Reading: <a href="https://en.coin-turk.com/tcmb-raises-year-end-inflation-forecast-to-65/" data-wpel-link="internal">https://en.coin-turk.com/tcmb-raises-year-end-inflation-forecast-to-65/</a>

TCMB Raises Year-End Inflation Forecast to 65%

Table of Contents

COINTURK NEWS

Other articles published on Nov 2, 2023

Solana faces imminent price correction: Here’s why

SEC Sends Notice to PayPal Regarding PayPal USD Stablecoin: Here Are the Details!

Friend Tech hits an all-time low with decreasing volumes and users!

Chiliz Debuts SportFi Platform with 25 Premier Collaborations: Pioneering the Next Wave of Sports...

Bitcoin Cash (BCH) Price Nears Critical Resitance – Will it Breakout or Breakdown?

$IGU on ByVotes: Winning the Vote will Pave the Way for IGU Listing on ByBit!

Join our free newsletter for daily crypto updates!