ANKARA, July 28: Türkiye's central bank revised its year-end inflation forecast to 58 percent, its governor said on Thursday. The bank's previous forecast in May was 22.3 percent.
The bank's new governor Hafize Gaye Erkan explained that the inflation will tempor
FRANKFURT, July 4: Joachim Nagel, president of the central bank of Germany (Deutsche Bundesbank), on Monday, said that inflation in the eurozone remains too high and that the European Central Bank (ECB) still has "a way to go" to bring it down to the target level.
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COLOMBO, March 8: Sri Lanka's central bank has allowed the rupee to devalue to 230 per U.S. dollar considering the severity of the external shocks and recent developments domestically.
The central bank said on Monday it will closely monitor the emerging macroeconomic and financial market developments, both globally and domestically, and will stand ready to take further measures as appropriate.
The aim is to achieve stability in inflation, the external sector, the financial sector, and real economic activity, according to the bank.
"In that context, greater flexibility in the exchange rate will be allowed to the markets with immediate effect. The central bank is also of the view that forex transactions would take place at levels which are not more than 230 rupees per U.S. dollar," the central bank said in a statement.
Earlier the rupee was pegged to the dollar at 200. A number of Sri Lankan economists have been urging the government to devalue the rupee in the past few months, stating that this policy was creating forex shortages and parallel exchange rates.
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