CBRT President Karahan Vows to Meet Inflation Target at Any Cost
Fatih Karahan, the President of the Central Bank of the Republic of Turkey (CBRT), recently visited the New York office of the Anadolu Agency (AA) during his trip to the USA. During his visit, Karahan discussed various topics related to the current economic situation in Turkey and the measures being taken to address inflation.
Karahan highlighted the importance of the decline in inflation and the role of strict monetary policy in achieving this goal. He emphasized the need to continue the strict monetary policy stance in order to maintain the downward trend in inflation and achieve price stability. Karahan stated that the CBRT will do whatever it takes to reach the inflation target of 24 percent by the end of the year.
In response to questions about the recent increase in the current account deficit and the impact of monetary policy on the Turkish lira, Karahan explained that the CBRT’s focus is on maintaining price stability and does not have specific objectives regarding exchange rates. He mentioned the steps taken to encourage investment in Turkish lira and reduce foreign currency loans.
Karahan also addressed the recent regulations limiting the growth of foreign currency loans, stating that these measures are intended to reduce risks to the real sector and strengthen financial stability. He emphasized the importance of these changes in maintaining a stable economic environment.
Overall, Karahan reiterated the CBRT’s commitment to a strict monetary policy stance and maintaining price stability in order to achieve long-term economic growth and stability in Turkey.
