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Turkish central bank raises inflation target
Summary from United States, from articles in English
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Turkey's central bank put its credibility on the line yesterday after it sharply raised its inflation targets for the next three years in the teeth of soaring energy and commodity prices. (article 1)
The move won the backing of the government, with which the bank has seemed to be at odds in recent months because of a conflict between monetary policy, which is being tightened, and fiscal policy, which is being loosened. (article 1)
Brazil's central bank was expected to raise interest rates again on Wednesday night as the country's inflation outlook continued to worsen. (article 3)
Consumer price inflation has risen above the government's target rate of 4.5 per cent a year in recent months and was 5.25 per cent in the year to mid-May. (article 3)
Australia's resource-driven economy grew twice as fast as expected in the opening quarter, propelled by increased household and construction spending and a rise in government defence expenditure. (article 4)
Sterling suffered on Wednesday after a survey suggested the UK services sector had contracted in May for the first time in five years. (article 5)
The economy expanded by an annualised 3.6 per cent in the first quarter, a better-than-expected result in view of the global slowdown, and just on the nose of the government's full-year projection for 2008. (article 6)
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Other stories about inflation, cent and Bank:
Event tracking:
Story keywords
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inflation, cent, Bank, Bernanke, rates |
Source articles
- Turkey increases inflation targets (ft.com, 06/05/2008, 415 words)
- Turkish central bank raises inflation target (ft.com, 06/04/2008, 528 words)
- Spending threat to Brazil inflation policy (ft.com, 06/04/2008, 594 words)
- Australian economy shows unexpected resilience (ft.com, 06/04/2008, 438 words)
- Services gloom hits sterling (ft.com, 06/04/2008, 542 words)
- Economy: Inflation fears fail to dent confidence about growth (ft.com, 06/02/2008, 872 words)
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blaster@cs.columbia.edu
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