Turkey’s central bank expects to break letter-writing cycle

Governor Erdem Başçı

After missing its inflation target for the third time in four years, the Central Bank of the Republic of Turkey (CBRT) was forced to send another letter to the government yesterday, but it does not expect to have to write another in 2016.

Inflation dropped to 8.2% in December, the lowest level since February, but still "significantly" above the central bank's target of 5%, according to the definition used by the government.

Governor Erdem Başçı and one of his deputies, Mehmet Yörükoğlu, singled o

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