Hafize Gaye Erkan, the President of the Central Bank of the Republic of Türkiye, announced an increase in the inflation forecasts for 2023 and 2024. The 2023 year-end inflation forecast was raised from 58 percent to 65 percent, and the 2024 year-end forecast from 33 percent to 36 percent. In a meeting, Erkan discussed inflation, monetary policies, and their impact on financial markets. She emphasized the commitment to using all available tools to combat high and volatile inflation until a significant improvement in the inflation outlook is achieved, highlighting the importance of price stability for social welfare.