Turkey’s Finance Minister Nureddin Nebati said on Wednesday, his government “will bring inflation down to single digits by June 2023.”

Further comments

“Will see inflation come down as of summer.”

“Lira protection scheme helps keep the exchange rate in foreseeable levels.”

Market reaction

USD/TRY has caught a fresh bid wave despite the upbeat comments on inflation by the Turkish government official.

The pair is currently trading at 14.72, adding 0.22% on the day.