ISTANBUL, July 24 (Reuters) - Turkey’s new medium term programme will focus on lowering inflation, Finance Minister Berat Albayrak said on Tuesday, shortly after the central bank announced it had kept interest rates unchanged, contrary to expectations of a hike.
Measures against high inflation are already being taken regarding public expenditure, Albayrak said in a written statement after meeting business people, adding the contribution of the medium term programme will be seen in the short term.
Turkey’s annual CPI inflation hit 15.39 percent in June, triggering expectations of a rate hike at Tuesday’s meeting. Albayrak said that the fight against inflation would be conducted in coordination with growth targets. (Reporting by Orhan Coskun Writing by Ali Kucukgocmen Editing by Daren Butler)