Few Impressions on the Inflation Report

TURKEY - Report 31 Oct 2014 by Murat Ucer
There were no major surprises or a whole lot new, in what we heard today at the presentation of the final Inflation Report of the year. Here are a few highlights. Yearend inflation estimates for this and next year -- as usual, midpoints of 70% probability bands -- are now at 8.9% and 6.1%, respectively (up from 7.6% and 5% in the July report).These are lower than the estimates provided in the MTP (9.4% and 6.3%, respectively), reflecting softer food and oil prices, as Governor pointed out.Not that it is all that important, but we did not think the CBRT would make any revisions to the MTP es...

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