Turkish Inflation Surge to Test New Central Banker’s Resolve
- January’s monthly price increases were fastest since August
- New central bank governor signaled readiness to tighten policy
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Turkish monthly inflation jumped the most since August, an upswing that could test the central bank’s resolve to quell inflation quickly after halting interest-rate increases last month.
While policymakers called an end to their tightening cycle, Hafize Gaye Erkan’s surprise removal from the top job last week has left the path forward uncertain. Fatih Karahan, a deputy governor chosen to replace her, said on Sunday that the central bank would be “ready to act” if the inflation outlook deteriorates.