Inflation Update from Central Bank President

Central Bank Governor Emphasizes Fight Against Inflation

During the Ordinary General Assembly Meeting, Central Bank Governor Fatih Karahan gave important messages regarding the ongoing battle against inflation. Despite efforts to curb inflation, Karahan pointed out that the underlying trend of monthly inflation was higher than anticipated in March.

Karahan stressed the importance of maintaining a strict stance to address the rising inflation rates. He also mentioned that year-end inflation expectations were above the estimates provided in the inflation reports.

In response to the effects of monetary tightening, Karahan highlighted that the demand for Turkish lira assets has increased. He assured that the Central Bank will continue to use the one-week repo auction interest rate as the main policy rate, with a focus on achieving price stability as the top priority.

It is clear that the Central Bank is dedicated to combating inflation and ensuring economic stability in Turkey. The efforts of Governor Fatih Karahan and the Central Bank will be crucial in managing the country’s economic challenges in the coming months.

 

This message was taken from this source and rewritten by artificial intelligence.