TCMB President Karahan: Concern over Uncertainty in Economic Data!

Important Statements from TCMB President Fatih Karahan

The President of the Central Bank of the Republic of Turkey (TCMB), Fatih Karahan, made important assessments regarding the Turkish economy during a presentation titled “Challenges in Reading Macroeconomic Data in Turkey,” held in the capital Washington, which addressed significant macroeconomic issues.

Economic Activity and Data Analysis

In his presentation, Karahan made various statements regarding economic activity and data analysis, saying, “There are significant differences among data sources used regarding the strength of economic activity. Especially the transition to digitalization has made different data publications uncertain, complicating the interpretation of macroeconomic data,” he stated.

Monitored Indicators and Economic Outlook

Karahan stated, “We monitor a wide range of indicators to make robust real-time inferences. When economic activity and demand indicators are combined, there are signs that moderate growth will continue.” At this point, he emphasized the importance of correctly interpreting economic data.

Strict Monetary Policy Will Continue

President Karahan emphasized that the TCMB’s strict monetary policy stance will be maintained resolutely in line with the price stability target. “The strict monetary policy stance, which will be maintained until price stability is achieved, will strengthen the process of decreasing inflation through demand, exchange rate, and expectation channels. We will not allow demand conditions to disrupt the inflation decline process,” he stated.

Conclusions and Future Expectations

Karahan’s statements continue to have a significant impact on the Turkish economy. The tight monetary policy implemented by the TCMB and the consideration of monitored indicators are expected to play an important role in combating inflation. Steps to eliminate uncertainties in economic data are crucial for Turkey's economic stability.