Central Bank of the Republic of Turkey revised the year-end inflation forecast, cutting it to 13.9%, down from 14.6% in a report presented by Governor Murat Uysal.

The inflation rate will fluctuate between 11.5% and 16.3% through the end of this year, Central Bank Governor Murat Uysal said during Inflation Report 2019-III presentation meeting held in the capital Ankara.

The bank kept inflation forecasts constant for the next year and 2021 at 8.2% and 5.4%, respectively.